Rodget's is saving $2,500 a month,starting today,and continuing for 4 years.The firm expects to earn 5.6 percent,compounded monthly.If the firm had wanted to deposit an equivalent lump sum today,how much would it have had to deposit?

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PV_Adue = $2,500({1 - 1 / [1 + (.056 / 12)]⁴^×12} / (.056 / 12))× [(1 + (.056 / 12)] = $107,787.25 2^nd BGN 2^nd SET 11ea6c22_9308_64a3_9716_e159a04ee678_TB1200_00

Rodget's Is Saving $2,500 a Month,starting Today,and Continuing for 4