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Emily expects to receive $ 1 8 , 5 0 0 from a trust fund when she obtains the age of majority according to her

Emily expects to receive $

18, 500

from a trust fund when she obtains the age of majority according to her trust which is

21 .

What is the current value of this fund if it is discounted at

5.5 %

compounded quarterly assuming she just had her

17

th birthday?

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