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Teaching Since: Apr 2017
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  • MBA,PHD in Psychology
    Northwest Florida State College
    Jun-1992 - May-1997

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  • Professor
    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 08 May 2017 My Price 9.00

A rather wealthy man decides to arrange for his descendants to be well educated.

A rather wealthy man decides to arrange for his descendants to be well educated. He wants each child to have

$60,000 for his or her education. He plans to set up a perpetual trust fund so that six children will receive the
assistance in each generation. He estimates that there will be four generations per century, spaced 25 years
apart. He expects the trust to be able to obtain a 5% rate of return, and the first recipients to receive the money
15 years from now. How much money should he set aside in the trust? (10)
 

 

 

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CourseWork
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Status NEW Posted 08 May 2017 10:05 AM My Price 9.00

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