How much money is required in the trust fund to provide

Assignment Help Civil Engineering

Reference no: EM13314117

A trust fund is to be established for the three purposes:

(1) To provide $750000 for th construction and $250000 for the initial equipment of a small engineering laboratory;

(2) to pay the $150000 per year laboratory operating cost; and

(3) to pay for $100000 of replacement equipment every 4 years, beginning 4 years from now.

At 6% interest, how much money is required in the trust fund to provide for the laboratory and equipment and its perpetual operation and equipment replacement?

Reference no: EM13314117

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