Multiple Choice
Uptown Industries just decided to save $3,000 a quarter for the next three years.The money will earn 2.75 percent,compounded quarterly,and the first deposit will be made today.If the company had wanted to deposit one lump sum today,rather than make quarterly deposits,how much would it have had to deposit to have the same amount saved at the end of the three years?
A) $34,441.56
B) $34,678.35
C) $33,428.87
D) $33,687.23
E) $34,998.01
Correct Answer:
Verified
Correct Answer:
Verified
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