A single deposit of $25,000 was made by your grandparents on the day you were born 25 years ago. The balance in the account today if it grew at 10% per year is closest to:

(a) $201,667
(b) $241,224
(c) $270,870
(d) $296,454


F = 25,000(F/P,10%,25)
= 25,000(10.8347)
= $270,868

(c) $270,870

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