I still do not understand this question. ^ Please help!

LEARN QUESTION REVIEWING 2 OF 3 ANSWER INCORRECT THE CORRECT ANSWER $86,300 Joc Smith wishes to have $100,000 in five years. If he can earn annual interest of 3%, how much must he invest today? $81,000 YOU WERE UNSURE AND INCORRECT $103,000 $100,000 I DON'T KNOW YET WHAT YOU NEED TO KNOW To calculate the amount, or present value, that must be deposited today to grow to S100,000 in 5 years, use Table B-1 in Appendix B to find the present value factor for a single sum at 3% and 5 years. This factor is 0.863 rounded Multiplied by the future value of S100,000, we find that we must deposit $86,300 today to have accumulated $100,000 in five years