A Trust Fund Is Set Up to Make Payments of $1320.00

question 94

Essay

A trust fund is set up to make payments of $1320.00 at the end of each month for seven years. Interest on the fund is 7.28% compounded monthly.
a) How much money must be deposited into the fund?
b) How much will be paid out of the fund?
c) How much interest is earned by the fund?

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Definitions:

Time Management

The process of organizing and planning how to divide one's time between specific activities efficiently.

Territorial Evaluation

The assessment of the sales potential or performance of a specific geographic area or market segment.

Performance Standards

are established expectations regarding the quality and speed of work for tasks or job roles, often used for evaluation purposes.

Sales Call Allocation

A plan to allocate sales calls within territories based on the number of accounts in the territory, the number of sales calls made on customers, time required for each sales call, frequency of customer sales calls, travel time around the territory, nonselling time, and return on time invested.