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Your parents established a trust fund on 1 July 2016 which is designed to pay you $3,000 each year commencing 1 July 2022. If the

Your parents established a trust fund on 1 July 2016 which is designed to pay you $3,000 each year commencing 1 July 2022. If the effective annual interest rate is 10.3%, the amount your parents contributed to the fund on 1 July, 2016 is:

Select one:

a. $52449

b. $29126

c. $17840

d. $16175

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