When you retire 45 years from now, you want to have $2.25 million saved. You think you can earn an average of 6.7 percent, compounded annually, on your investments. To meet your goal, you are trying to decide whether to deposit a lump sum today, or to wait and deposit a lump sum five years from today to fund this goal. How much more will you have to deposit if you wait for five years before making the deposit? You will need to deposit approximately 0.7157 times (or about 71.57% ) of the amount you would need to deposit if you waited five years to make the deposit $46,556.69 $49,891.11 $20,468.85 None of these answers are correct