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Arnold Ziffle established a trust fund that provides $75,000 in scholarships each year for worthy students. The trust fund earns a 5 percent rate of return. How much money did Ziffle contribute to the fund assuming that only the interest income is distributed?
$485,000
$716,000
$1,250,000
$1,500,000
$7,500,000
PLEASE show all work!
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