George Jefferson established a trust fund that provides $175,500 in scholarships each year for worthy students....
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George Jefferson established a trust fund that provides $175,500 in scholarships each year for worthy students. The trust fund earns a 4 percent rate of return. How much money did Mr. Jefferson contribute to the fund assuming that only the interest income is distributed? |
$7,020,000
$4,387,500
$4,212,000
$3,096,873
$5,265,000
Homework Answers
Money contributed=$175500/rate of return
which is equal to
=(175500/0.04)
=4,387,500
Add Answer to:
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