A trust fund is to be established for three purposes:(1)
Chapter , Problem 5-60(choose chapter or problem)
A trust fund is to be established for three purposes:(1) to provide $750,000 for the construction and$250,000 for the initial equipment of a small engi-neering laboratory; (2) to pay the $150,000 peryear laboratory operating cost; and (3) to pay for$100,000 of replacement equipment every 4 years,beginning 4 years from now.At 6% interest, how much money is requiredin the trust fund to provide for the laboratoryand equipment and its perpetual operation andequipment replacement?
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