Seeb Metals Incjust decided to save OMR 1605 a month for the next years as a safety net for recessionary periods The money will be set aside in a separate savings account which pays 5 percent interest compounded monthly . The first deposit will be made today. What would today's deposit amount have to be if the firm opted for one lump sum deposit today that would yield the same amount of savings as the monthly deposits after 5 years? Select one: a. 85,404.46 b. 84,606.29 C. 85,050.08 d. 109,604.55 e. 109,149

Seeb Metals Incjust decided to save OMR 1605 a month for the next years as a safety net for recessionary periods The money will be set aside in a separate savings account which pays 5 percent interest compounded monthly . The first deposit will be made today. What would today's deposit amount have to be if the firm opted for one lump sum deposit today that would yield the same amount of savings as the monthly deposits after 5 years? Select one: a. 85,404.46 b. 84,606.29 C. 85,050.08 d. 109,604.55 e. 109,149

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 34P

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