Beneficiary of trust fund established-compounded annually

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Reference no: EM131297359

A young man is the beneficiary of a trust fund established for him 25 years ago at his birth. If the original amount placed in trust was $30,000, how much will he receive if the money has earned interest at the rate of 5%/year compounded annually? Compounded quarterly? Compounded monthly? (Round your answers to the nearest cent.)

compounded annually $

compounded quarterly $

compounded monthly $

Reference no: EM131297359

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