Consider the table to the right. Suppose that you are planning your Discounted Present Values of $1 retirement. The appropriate interest rate for computing the present values Year 3% 5% 8% 10% 20% of future dollars to be received is 5 percent, and you plan to "cash in" all of 0.9709 0.9524 what you save for retirement this year in exactly 25 years. How many 0.9259 0.9091 0.8333 dollars would you have to save this year to ensure being able to have a 0.9426 0.9070 0.8573 0.8264 0.6944 W N total of $60,000 accumulated 25 years from now? 0.9151 0.8638 0.7938 0.7513 0.5787 A 0.8885 0.8227 0.7350 0.6830 0.4823 Since you want to have $60,000 available 25 years from now for your 5 0.8626 0.7835 0.6806 0.6209 0.4019 retirement, you would need to save $ | this year in order to meet your 6 0.8375 0.7462 0.6302 0.5645 0.3349 goal. (Enter your response rounded to the nearest whole number.) 7 0.8131 0.7107 0.5835 0.5132 0.2791 8 0.7894 0.6768 0.5403 0.4665 0.2326 9 0.7664 0.6446 0.5002 0.4241 0.1938 10 0.7441 0.6139 0.4632 0.3855 0. 1615 15 0.6419 0.4810 0.3152 0.2394 0.0649 20 0.5537 0.3769 0.2145 0.1486 0.0261 25 0.4776 0.2953 0.1460 0.0923 0.0105 30 0.4120 0.2314 0.0994 0.0573 0.0042 40 0.3066 0.1420 0.0460 0.0221 0.0007 50 0.2281 0.0872 0.0213 0.0085 0.0001 Next G tv