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Mike who is 6 years old just received a trust fund that will be worth $25,000 when he turns 21. If the fud earns .11

Mike who is 6 years old just received a trust fund that will be worth $25,000 when he turns 21. If the fud earns .11 interest compounded annually, what is the value of the fund today? (answer should be rounded to two decimal places.)

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