Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your brother who is 6 year old, just received a trust fund that will bee woth $24,000 when he is 21 years old . If

Your brother who is 6 year old, just received a trust fund that will bee woth $24,000 when he is 21 years old . If the fund earn 0.09 interest compounted annyally, what is the value of the fubnd today?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

4th Edition

0256147175, 978-0256147179

More Books

Students also viewed these Finance questions