Question
13. our brother, who is 6 years old, just received a trust fund that will be worth $25,000 when he is 21 years old. If
13.
our brother, who is 6 years old, just received a trust fund that will be worth $25,000 when he is 21 years old. If the fund earns 10 percent interest compounded annually, what is the value of the fund today?
Group of answer choices
$104,602
$6,575
$5,975
$6,875 14.
You deposited $2,000 seven years ago and havent touched the account since. Now you have $3,656 in the bank. What was the interest rate?
Group of answer choices
6%
7%
8%
9% 15.
Find the future value in two years of $100 that is deposited in an account, which pays 12%, compounded monthly.
Group of answer choices
$160.00
$112.70
$118.80
$125.40
$126.97
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