A Trust Fund Is Being Set Up by a Single

question 110

Short Answer

A trust fund is being set up by a single payment so that at the end of 30 years there will be $20,000 in the fund.If the interest rate is 8% compounded quarterly,how much money should be paid initially into the trust fund?

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Definitions:

Anastasis

Greek, “resurrection.” In Byzantine art, the representation of Christ’s descent into limbo.

Byzantine-Era Church

A Christian church from the Byzantine Empire era, characterized by extensive use of domes, mosaics, and an Eastern Christian liturgical structure.

Apse

A recess, usually semicircular, in the wall of a building, commonly found at the east end of a church.

Monastery of Saint Catherine

An ancient monastery located at the foot of Mount Sinai in Egypt, it is one of the oldest working Christian monasteries in the world with a rich collection of art.