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Answer to Question #315804 in Financial Math for nos
Question #315804
Your parents set up a trust fund for you 10 years ago that is now worth R19 671,51. If the fund earned 7% per year, how much did your parents invest?
Expert's answer
Present value"=\\frac{FV}{(1+r)^n}"
"=\\frac{R19671,51}{(1+0.07)^{10}} =R9999.99"
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