Seeb Metals Inc. just decided to save OMR 1,395 a month for the next 5 years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 7 percent...

Seeb Metals Inc. just decided to save OMR 1,395 a month for the next 5 years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 7 percent interest compounded monthly. The first deposit will be made today. What would today's deposit amount have to be the firm opted for one lump sum deposit today that would yield the same amount of savings as the monthly deposits after 5 years?