Raj inherited $50,000. He plans to spend the money on a new car, but first, he would like to set aside some of his inheritance to fund a graduate school program that he plans to start in 3 years for $20,000. The cost of graduate school tuition is known as a Select answer from the options below future value of an annuity. future value of a lump sum. present value of a lump sum. present value of an annuity