A man stipulates in his will that $50000 from his estate is to be placed in a fund from which his three children are to each receive the same amount when they reach age 21. When the man dies (on January 2010), the children are aged 19, 15 and 13. The fund earns variable interest and the rates are as provided in the table below. How much will each child receive?

Duration
01/01/09 to 31/12/12
Variable interest rate
12% p.a compounded semi-annually
Duration
01/01/13 to 31/12/25
Variable interest rate
10% p.a compounded annually

3 answers

28086.40
The answer is $28418.78
282451.78
Similar Questions
  1. Which estate performed the Tennis Court Oath?(1 point)A) the fourth estate, made up of the king and queen B) the first estate,
    1. answers icon 1 answer
    1. answers icon 1 answer
  2. Which estate performed the Tennis Court Oath?the fourth estate, made up the of king and queen The third estate, made up of the
    1. answers icon 1 answer
  3. Select the correct answer from the drop-down menu.Complete these sentences on estate planning. Estate planning is planning the
    1. answers icon 1 answer
more similar questions