Use Tables 12-1 and 12-2 from your text to answer the following problems. (Round dollars to the nearest cent)
-Refer to Narrative in your text 12-1. Chad Earl is ready to establish a trust fund for his son and has saved up $350,000 for that purpose. He wants to amortize that amount in a trust fund so that his son will receive equal annual payments over the next 21 years. At the END of 21 years, there will be no funds left in the account. If the fund earns 8% interest compounded annually, how much will his son receive each year?

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The Answer of Use Tables 12-1 and 12-2 from your text to answer the following problems. (Round dollars to the nearest cent)
-Refer to Narrative in your text 12-1. Chad Earl is ready to establish a trust fund for his son and has saved up $350,000 for that purpose. He wants to amortize that amount in a trust fund so that his son will receive equal annual payments over the next 21 years. At the END of 21 years, there will be no funds left in the account. If the fund earns 8% interest compounded annually, how much will his son receive each year?

Use Tables 12-1 and 12-2 from Your Text to Answer