Trust Fund Total??

[Guest]

Hello,

I am receiving an inheritance and only have the breakdown of how it will be paid out not the total. Was wondering if someone can figure out the full amount based on the info provided to me. Please see below the payment schedule. Thanks!

1st year- $30,000.00
2nd year- $31,500.00
3rd year- $33,000.00
4th year- $34,800.00
5th year- 1/3 remaining balance
6th year- $38,000.00
7th year- $39,800.00
8th year- $42,300.00
9th year- $44,400.00
10th year- 1/2 of remaining balance
11th year- $49,000.00
12th year- $51,500.00
13th year- $54,100.00
14th year- $56,800.00
15th year- Remaining balance paid

[Guest]

Because of the years when you will be paid "1/3 of the remaining balance" "1/2 of the remaining balance", and "the remaining balance" it is impossible to say what the total will be. You could start by letting the total amount be "N". Then as of the fifth year the remaining balance will be N- 129,300 so "1/3 of the remaining balance" will be (N- 129,300)/3= N/3- 43,100. Once that has been paid, the balance will be N- 129,300- N/3+ 43,100= 2N/3- 86,200. Of course once all the payments have been made, the total will be that original amount, N.

(I think you just posted this to brag about how much money you are going to have!)