The Distribution Point Plans to Save $2,000 a Month for the Next

question 46

Multiple Choice

The Distribution Point plans to save $2,000 a month for the next 3 years for future emergencies. The interest rate is 4.5 percent compounded monthly. The first monthly deposit will be made today. What would today's deposit amount have to be if the firm opted for one lump sum deposit that would yield the same amount of savings as the monthly deposits after 3 years? 

• A) $70,459.07 
• B) $67,485.97 
• C) $69,068.18 
• D) $69,333.33 
• E) $67,233.84 

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The generation of people born approximately between the early 1960s and late 1970s, known for its bridging role between the Baby Boomers and Millennials.

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