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 $ per month, starting today, and continuing for four years. The firm expects to earn 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
$
$
$
$
$
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