8. Calculating Time Value of Money for Savings Goals. If you desire to have $10,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 5 percent 9. Calculating Present Value of a Series. Pete Morton is plan ning to go to graduate school in a program of study that will take three years. Pete wants to have $10,000 available each year for various school and living expenses. If he earns 4 percent on his money. how much must be deposited at the start of his studies to be able to withdraw $10,000 a year for three years