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Maxwell Foods established a trust fund that will provide $225,000 in scholarships each year forever. The trust fund earns a 4.63 percent rate of return.

Maxwell Foods established a trust fund that will provide $225,000 in scholarships each year forever. The trust fund earns a 4.63 percent rate of return. How much money did the firm contribute to the fund 20 years ago, assuming that only the interest income is distributed?

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