Grayson is saving for a used car. He needs $14,000. How much must he invest at 4% annual interest rate to have $14,000 in two years? Round to the nearest dollar. (the table below may help you answer this question) Present Value Interest Factors Period 2% 4% 6% 5% 10% 12% 15% 20% 1 .9804 .9615 .9434 .9259 .909 8929 8696 8333 2 .9612 .9246 8900 8573 .8264 .7972 .7561 .6944 3 9423 8890 8396938 7513 7118 6575 5787 9238 8548 7921 7350 830 6355 5718 A823 5 ,90S7 .8319 J473 6806 .6209 S674 A972 19 6 8880 .7903 050 6302 ,5645 ,5066 A323 ,3349 7 8706 7599 6651 58355132 A523 3759 2791 8 8535 7307 6274 5403 4665 4039 3269 2326 9 8363 .7026 5919 S002 ,4241 3606 2843 .1938 10 .8203 6756 SS84 A632 .38SS J220 ,2472 161s 11 8043 6496 5268 A289 3505 2875 2149 1346 12 7885 6246 A9703971 3186 2567 1869 1122 13 7730 6006 4688 3677 28972292 1625 0935 14 7579 5775 4423 34052633 2046 1413 0779 15 7430 5553 A173 3152 2394 1827 1229 0649 16 7284 5339 3936 2919 2176 16311069 0541 17 7142 5134 3714 2703 1978 1456 0929 0451 18 002 4936 3503 2502 1799 1300 0808 0376 19 6864 .4746 .3305 2317 .1635 .1161 0703 .0313 20 6730 4564 3118 2145 1486 007 0611 0261 Select one: o a. A. $12.983 o b. B. $12,417 O c. C. $13.720 d, D-$12.944 o e. E. None of the above