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Juan and Rachel Burpo plan to buy a time-share in six years of $15,750. In order to have adequate funds to do so, the Burpo

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Juan and Rachel Burpo plan to buy a time-share in six years of $15,750. In order to have adequate funds to do so, the Burpo want to make a deposit to their money market fund today. Assume that they will be able to earn an investment rate of 5.75%, compounded annually. How much will Juan and Rachel need to deposit today to achieve their goal? (Round off to the nearest dollar.) $11,146 $12,055 $11,262 $14,214

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