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Safety net for economic downturns

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Reference no: EM131113895

The Helium 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 6.25 percent annual rate, with interest compounded quarterly. The first deposit will be made today. If Helium wanted to deposit an equivalent lump sum today, how much would it have to deposit?

a. $190,454.86
c. $189,468.05
b. $173,299.39
d. $170,633.25

Reference no: EM131113895

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