How much do you need to deposit now, if you plan to have AUD 20,000 at end of the next five years and the interest rate is 5% p.a.? (Assume compound interest)

Select one:

A.

AUD 15,671

B.

AUD 16,000

C.

AUD 19,047

D.

AUD 16,454

E.

AUD 18,181