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Benson's Established a Trust Fund That Provides $125,000 in College

Question 23

Multiple Choice

Benson's established a trust fund that provides $125,000 in college scholarships each year.The trust fund earns 6.15 percent and distributes only its annual income.How much money did Benson's contribute to establish this fund?


A) $2,291,613
B) $2,032,520
C) $2,150,000
D) $2,018,970
E) $1,987,408

Correct Answer:

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