A trust fund for a newborn is being set up by a single payment so that at the end of 18 years there will be $34,000.If the fund earns interest at the rate of 6.25% compounded monthly,how much money should be paid into the fund initially?

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The Answer of A trust fund for a newborn is being set up by a single payment so that at the end of 18 years there will be $34,000.If the fund earns interest at the rate of 6.25% compounded monthly,how much money should be paid into the fund initially?

A Trust Fund for a Newborn Is Being Set Up