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George Jefferson just established a trust fund that provides $ 1 7 2 , 5 0 0 in scholarships each year in perpetuity. Assuming the

George Jefferson just established a trust fund that provides $

172, 500

in scholarships each year in perpetuity. Assuming the trust fund earns a

3

percent annual rate of return, how much money did Mr

.

Jefferson contribute to the fund?

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