The Distribution Point plans to save $2,000 a month for the next 3 years for future emergencies. The annual interest rate is 4.5 percent. The first monthly deposit will be made at the end of the month. 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
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The Distribution Point plans to save $2,000 a month for the next 3 years for future emergencies. The...
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