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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
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
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