M - PRESENT VALUE CONCEPT You plan to retire in 12 years and you will need a lump sum of $800,000 to maintain your life style. How much do you need to deposit today, assuming an interest rate of 4% p.a.? I An investment will pay $15,000 at the end of Year 3, $20,000 at the end of Year 4 and $30,000 at the end of Year 5. What is the present value of the investment, assuming an annual return of 8%