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MC Qu. 6-A13 George Jefferson established a trust fund that provides... George Jefferson established a trust fund that provides $171,500 in scholarships each year for

MC Qu. 6-A13 George Jefferson established a trust fund that provides...

George Jefferson established a trust fund that provides $171,500 in scholarships each year for worthy students. The trust fund earns a 2 percent rate of return. How much money did Mr. Jefferson contribute to the fund assuming that only the interest income is distributed?
$8,575,000
$4,116,000
$3,026,289
$5,145,000
$6,860,000

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