The felix corp has just decided to save 10000 each quarter, Ask an Expert

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The Felix Corp has just decided to save $10,000 each quarter for the five years as a safety net for economic downturns. The money will be set aside in a separate savings account that pays 4.25 percent annual rate, with interest compounded quarterly. The first deposit will be made today. If the company wanted to deposit an equivalent lump sum today, how much would it have to deposit?

a. $181,230.32

b. $190,454.86

c. $173,299.39

d. $170,633.25

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940133

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