Posted by **Anonymous** on Sunday, September 25, 2011 at 6:21pm.

A man stipulates in his will that $50000 from his estate is to be placed in a fund from which his three children are to each receive the same amount when they reach age 21. When the man dies (on January 2010), the children are aged 19, 15 and 13. The fund earns variable interest and the rates are as provided in the table below. How much will each child receive?

Duration

01/01/09 to 31/12/12

Variable interest rate

12% p.a compounded semi-annually

Duration

01/01/13 to 31/12/25

Variable interest rate

10% p.a compounded annually

- Finance -
**Anonymous**, Monday, October 3, 2011 at 6:20pm
28086.40

- Financial Mathematic -
**Teibouri, Bamaere**, Monday, October 10, 2011 at 5:11pm
The answer is $28418.78

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