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A young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the original amount placed in

A young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the original amount placed in the trust was 8,000, how much will he receive if the money has earned interest at the rate of 8%/year compounded annually? Compounded quarterly? Compounded monthly?

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