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AnnyKZ [126]
1 year ago
7

George Jefferson established a trust fund that will provide $170,500 per year in scholarships. The trust fund earns an annual re

turn of 2.1 percent. How much money did Mr. Jefferson contribute to the fund assuming that only income is distributed?
Business
1 answer:
Dimas [21]1 year ago
4 0

Answer:

$8,119,048

Explanation:

Given that,

Amount of scholarships = $170,500 per year

Trust fund earns an annual rate of return = 2.1 percent

Let x be the amount contribute to the fund and assuming that only income is distributed,

2.1% of x = Amount of scholarships

0.021x =  $170,500

x = $170,500 ÷ 0.021

  = $8,119,048

Therefore, the amount of money that is contributed by the George Jefferson to the trust is $8,119,048.

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Kanska, an application development firm, received a contract to develop a mobile application for a company. The brief mentioned
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1 year ago
People of lower socioeconomic status are more likely to smoke tobacco, but the data collected does not indicate why. However, wi
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You can offer these time management tips:
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ivann1987 [24]

Answer:

PV= $1,311.17

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