you are to receive $ 16700 from your trust fund in 7.5 years. you negotiate a deal where you can withdraw $350 per month starting 2.75 years before you can withdraw the remainder of the funds. you are able to earn 4.18% compounded annually on your money. how much is your trust fund reduced to?

you are to receive $ 16700 from your trust fund in 7.5 years. you negotiate a deal where you can withdraw $350 per month starting 2.75 years before you can withdraw the remainder of the funds. you are able to earn 4.18% compounded annually on your money. how much is your trust fund reduced to?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 16P

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you are to receive $ 16700 from your trust fund in 7.5 years. you negotiate a deal where you can
withdraw $350 per month starting 2.75 years before you can withdraw the remainder of the funds.
you are able to earn 4.18% compounded annually on your money. how much is your trust fund
reduced to?

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