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George Jefferson established a trust fund that provides $166,500 in scholarships each year for worthy students. The trust fund earns a 5 percent rate of
George Jefferson established a trust fund that provides $166,500 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? |
$3,996,000
$3,330,000
$6,660,000
$4,995,000
$2,938,059
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