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How much will he receive

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Question - A young man is the beneficiary of a trust fund established for him 21 yr ago at his birth. If the original amount placed in trust was $40,000, how much will he receive if the money has earned interest at the rate of 8%/year compounded annually? Compounded quarterly? Compounded monthly? (Round your answers to the nearest cent.)

compounded annually    $ 

compounded quarterly    $ 

compounded monthly    $

Reference no: EM131749269

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