4. How much do you need to deposit into a savings account today to ensure you have a $25,000 balance in five years for a major purchase such as a car or a house? Assume you can earn an annual return of 4% and make no withdrawals so interest earned previously continues to earn interest. (Hint: This is an example of present value of a future lump sum where PV = FV / (1+r)t where FV is the future amount, r is the annual return or interest rate and t is the number of years into the future.) a. $20,548 b. $20,667 c. $20,724 d. $20,891