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Tiger Importing created a trust fund to give R90 000 in scholarships to meritorious candidates each year. The trust fund earns a fixed 6% rate

Tiger Importing created a trust fund to give R90 000 in scholarships to meritorious candidates each year. The trust fund earns a fixed 6% rate of return. How much money did the firm contribute to the fund, assuming that only the interest income is distributed?

1. R 450 000

2. R 539 600

3. R1 500 000

4. R5 400 000

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