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    Value of a trust fund

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    Your brother, who is 6 years old, just received a trust fund that will be worth $22,000 when he is 21 years old. If the fund earns 0.10 interest compounded annually, what is the value of the fund today?

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    https://brainmass.com/economics/the-time-value-of-money/value-trust-fund-575226

    Solution Summary

    This solution contains step-by-step calculations to determine the present value.

    $2.19