Question: A firm is saving $ 2 , 5 0 0 per month, starting today, and continuing for four years. The firm expects to earn 5

A firm is saving $2,500 per month, starting today, and continuing for four years. The firm expects to earn 5.6 percent, compounded monthly. If the firm had wanted to deposit an equivalent lump sum today, how much would it have had to deposit?
Multiple Choice
$107,787.25
$108,601.95
$105,330.60
$107,286.58
$108,998.01

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