When you were bom, your grandfather established a trust fund for you in the Cayman Islands. The account has been earning interest at the rate of 15% per year. If this account will be worth $90,000 on your 23th birthday, how much did your grandfather deposit on the day you were born? A Click the icon to view the interest and annuity table for discrete compounding when i=15% per year. Choose the correct answer below. O A. $3,618 O B. $2.965 OC. $13,500 O D. $13,335 OE. $3,913 Click to select your answer

When you were bom, your grandfather established a trust fund for you in the Cayman Islands. The account has been earning interest at the rate of 15% per year. If this account will be worth $90,000 on your 23th birthday, how much did your grandfather deposit on the day you were born? A Click the icon to view the interest and annuity table for discrete compounding when i=15% per year. Choose the correct answer below. O A. $3,618 O B. $2.965 OC. $13,500 O D. $13,335 OE. $3,913 Click to select your answer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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