Value of the fund today, What is the value of the fund today? Note: Please provide step, Finance Basics

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Value of the fund today

Problem:

Your brother, who is 6 years old, just received a trust fund that will be worth $24,000 when he is 21 years old. If the fund earns 0.11 interest compounded annually,

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Question: What is the value of the fund today? Note: Please provide step by step solution.

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Finance Basics: Value of the fund today

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