Question: 1. Fathom Research wanted to develop a fund that would yield enough annual interest to fund a $45,000 annual scholarship for gifted marine biology students

1. Fathom Research wanted to develop a fund that would yield enough annual interest to fund a $45,000 annual scholarship for gifted marine biology students in perpetuity. Assuming the interest rate was 5%, what amount did they need to deposit to accomplish this goal?

$225,000

$900,000

$145,000

$150,000

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