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Wicker Imports established a trust fund that provides $135,600 in scholarships each year for needy students. The trust fund earns a 3.00 percent rate of
Wicker Imports established a trust fund that provides $135,600 in scholarships each year for needy students. The trust fund earns a 3.00 percent rate of return. How much money did the firm contribute to the fund assuming that only the interest income is distributed?
$2,392,797.60
$2,034,000.00
$4,520,000.00
$4,068,000.00
$5,424,000.00
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