Established a trust fund, George Jefferson established a

Established a trust fund

Assignment Help Financial Management

Reference no: EM13880041

George Jefferson established a trust fund that provides $170,500 in scholarships each year in perpetuity for worthy students. The trust fund earns a 4 percent annual rate of return. How much money did Mr. Jefferson contribute to the fund assuming that only the interest income is distributed?

$3,008,643

$5,115,000

$4,262,500

$6,820,000

$4,092,000

Reference no: EM13880041

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