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A local charity receives annual income of $9,800 from a trust fund established by a generous donor several years ago. The trust fund earns a fixed annual return of 4.75 percent. How much did the donor contribute to establish this fund

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  1. Today, 03:38
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    The answer is $206315.79

    Explanation:

    PV = $9,800 / 0.0475 = $206315.79
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