The fund assuming that only interest income is distributed

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Reference no: EM131604247

George Jefferson established a trust fund that provides $169,500 in scholarships each year for worthy students. The trust fund earns a 5 percent rate of return. How much money did Mr. Jefferson contribute to the fund assuming that only the interest income is distributed?

$4,068,000

$2,990,997

$6,780,000

$5,085,000

$3,390,000

Reference no: EM131604247

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