137. When you were born, your grandfather established a trust fund for you in the Cayman Islands....

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137. When you were born, your grandfather established a trust fund for you in the Cayman Islands.

The account has been earning interest at the rate of 10%

per year. If this account will be worth $100,000 on your 25th birthday, how much did your grandfather deposit on the day you were born? (4.6)

(a) $4,000

(b) $9,230

(c) $10,000

(d) $10,150

(e) $10,740

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Engineering Economy

ISBN: 9781292265001

17th Global Edition

Authors: William G. Sullivan ,Elin M. Wicks ,C. Patrick Koelling

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Question Posted: Oct 25, 2024 10:11 AM

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137. When you were born, your grandfather established a trust fund for you in the Cayman Islands....

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Engineering Economy

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