You expect to receive $5,000 at graduation one year from now. your plan is to investthis money at 6.5 percent, compounded annually, until you have $50,000. at that time, you plan to travel around the world. how long from now will it be until you can beginyour travels?

Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.