Problemyour brother who is 6 years old just received a, Ask an Expert

Finance

Problem:

Your brother, who is 6 years old, just received a trust fund that will be worth $24,000 when he is 21 years old.

Required:

Question: If the fund earns 0.10 interest compounded annually, what is the value of the fund today?

Note: Please show how you came up with the solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91163390

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