ibrain287 ibrain287

09-01-2024
Mathematics

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Your parents set up a trust fund for you 10 years ago that is now worth $19,670. If the fund earned 4% per year, how much did your parents invest? What is the discount factor?

a) $15,000, 0.694
b) $15,500, 0.735
c) $16,000, 0.772
d) $16,500, 0.808

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