Present Value Juan would like to give his newly born grandson a gift of $5,000 on his eighteenth birthday, Juan can earn 7% annual interest on a certificate of deposit. How much must he deposit now in order to achieve his goal? In order to given his grandson $5,000 on his eighteenth birthday, Juan needs to deposit $ (Round to the nearest cent.) (Use your financial calculator or you may use the Financial Tables in Appendix Cin computing your answer, and round to the nearest cent.)