Question
George Jefferson established a trust fund that will provide $212,500 per year in scholarships. The trust fund earns an annual return of 3.5 percent. How
George Jefferson established a trust fund that will provide $212,500 per year in scholarships. The trust fund earns an annual return of 3.5 percent. How much money did Mr. Jefferson contribute to the fund assuming that only income is distributed?
Multiple Choice
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$5,604,395.60
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$5,059,523.81
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$6,071,428.57
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$6,938,775.51
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$5,312,500.00
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International Financial Markets And The Firm
Authors: Piet Sercu, Raman Uppal
1st Edition
1861523548, 978-1861523549
