The bank would like to set up a reserve fund. If the fund earns an effective annual rate of 6%. How much the bank need in the fund today if the fund pays an amount of $10,000 today and grows by 3% per annum for an infinite period?

Select one:

a. $353,333.33

b. $298,562.63

c. $333,333.33

d. $412.589.72