Which of the following statements is TRUE? There is no such thing as the PV of a perpetuity. The formula for the PV of an annuity would give us the value at the end of year 5 for an annuity with a first payment that occurs at the end of year 4. The compounding process adds the interest part to the PV. In order to have a given later amount, a higher discount rate and more periods of compounding would require a larger earlier investment. The time line for a lender of $1,000 for one year at a rate of 8% compounded annually would include a negative $1,080 at the end of year 1. You desire the following withdrawals at the points indicated in the time line. If you can earn an annual rate of 8%, how much must you invest today? A financial planner estimates that you should have $2 million in your account by the time you retire 30 years from now. If you can earn an annual rate of 6%, how much must you deposit into your account at the end of each of the next 30 years in order to have the recommended amount