When you were born, your grandfather established a trust fund for you in the Cayman Islands. The
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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 of 10% per year. If this account will be worth $100,000 on your 25th birthday, how much did your grandfather deposit on the day you were born?
(a) $4,000
(b) $9,230
(c) $10,000
(d) $10,150
(e) $10,740
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Related Book For 
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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