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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

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 15% per year. If this account will be worth $110.000 on your 24th birthday, how much did your grandfather deposit on the day you were born?

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