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How much would have to pay into a trust fund

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Reference no: EM132598450

Question 1: A friend of QUT wishes to establish a trust to pay a perpetual scholarship in the memory of his mother. The scholarship would be offered every three years with the first one awarded immediately. The amount of the scholarship would be $30000. How much would he have to pay into a trust fund now to meet its commitments, if the fund can earn returns of 5% per annum?

Reference no: EM132598450

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