2. By the conditions of a will, the sum of P25000 is left to a girl to be held in trust by her guardian until it amounts to P45,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?

SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter18: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 32CE
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Note: Please sketch the cash-flow diagram.
2. By the conditions of a will, the sum of P25000 is left to a girl to be held in
trust by her guardian until it amounts to P45,000. When will the girl receive
the money if the fund is invested at 8% compounded quarterly?
Transcribed Image Text:2. By the conditions of a will, the sum of P25000 is left to a girl to be held in trust by her guardian until it amounts to P45,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?
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