George jefferson established a trust fund

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George Jefferson established a trust fund that provides...

George Jefferson established a trust fund that provides $171,500 in scholarships each year for worthy students. The trust fund earns a 2 percent rate of return. How much money did Mr. Jefferson contribute to the fund assuming that only the interest income is distributed?

$8,575,000

$4,116,000

$3,026,289

$5,145,000

$6,860,000

Reference no: EM13728339

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