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Business, 04.11.2019 23:31 jennyv191

Carl is the beneficiary of a $20,000 trust fund set up for him by his granparents. under the terms of the trust, he is to receive the money over the a 5-year period in equal installments at the end of each year. if the fund earns interest at the rate of 7%/year compounded annually, what amount will he receive each year? round your answer to two decimal places.

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