In his will, a man wishes to establish a perpetual trust to provide for the maintenance of a small local park. If the annual maintenance is $1500 per year and the trust account can earn 5% interest, how much money must be set aside in the trust?

1.
$150,000

2.
$250,000

3.
$100,000

4.
$305,000

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13 Aug 2019

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