These definitions were found on Wordnik:
chest:
- A sturdy box with a lid and often a lock, used especially for storage.
- The part of the body between the neck and the abdomen,
enclosed by the ribs and the breastbone; the thorax.
trunk:
- A large packing case or box that clasps shut, used as luggage or for storage.
- The body of a human or animal excluding the head and
limbs.
I found it interesting that the words were practically synonymous in two very different senses.
As to your comment: dictionaries do not seem to be very specific when defining "trunk" and "chest", that's partly because, much like the storage items themselves, the words are very versatile.
Quite often, you'll find a descriptive word in front of chest: treasure chest, tea chest, tool chest, medicine chest, e.g.
There are other ways the words differ, too: some might call a bureau a chest (or chest of drawers), and many of us carry a key that opens the trunk of our car. I suggest visiting the Wordnik pages for expanded definitions and example uses.
As for using the words in your original sense (to describe an object such as the one depicted below), I think you were onto something when you said we'd be more likely to travel with a trunk than with a chest, but I might use either word to describe the object in the picture.
Best Answer
The main root of both words is a form of finish:
From the etymologies:
As you correctly noticed, the key to the distinction is in the prefix de- of definite:
Infinite means without boundaries: going on forever, while indefinite is related meaning without established boundaries. When something is definite, a person has "gotten down to the bottom" of its boundaries, but when something is indefinite, it may be finite, but a person has "not gotten down to the bottom" of where those boundaries actually are.
Infinite space tells us there is no end to the space, but indefinite space simply tells us we don't know the end of the space.