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You are to receive $16 700 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. Y are able earn 4.18% compounded annually on your money. How much is your trust fund reduced to 4195.40 b$4159.40 c$4459.40 d$4495.40 e$4155.40

You are to receive $16 700 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. Y are able earn 4.18% compounded annually on your money. How much is your trust fund reduced to 4195.40 b$4159.40 c$4459.40 d$4495.40 e$4155.40

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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You are to receive $16 700 from your trust fund in 7.5 years. You negotiate a deal where you can withdraw $350 per month starting 2.75 years before you can withdraw the remainder of the funds. You are able earn 4.18% compounded annually on your money. How much is your trust fund reduced to? a$ 4195.40 b$4159.40 c$4459.40 d$4495.40 e$4155.40
Transcribed Image Text:You are to receive $16 700 from your trust fund in 7.5 years. You negotiate a deal where you can withdraw $350 per month starting 2.75 years before you can withdraw the remainder of the funds. You are able earn 4.18% compounded annually on your money. How much is your trust fund reduced to? a$ 4195.40 b$4159.40 c$4459.40 d$4495.40 e$4155.40
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