You are saving for a car that costs $58,000 that you hope to purchase in eight years. How much will you need to deposit today in a savings account that earns 7%, compounded annually, to withdraw enough for the purchase? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest whole dollar amount.) Multiple Choice $33,756 O $53,940 O $54,207 $99,656 TABLE 11.1A Future Value of $1 Periods 2% 3% 3.75% 4% 4.25% 5% 6% 7% 8% 0 1.0000 1.0000 10000 10000 10000 10000 10000 1.0000 1.0000 1 1.0200 1.0300 1.0375 1.0400 1.0425 1.0500 1.0600 1.0700 1.0800 2. 1.0404 1.0609 1.0764 1.0816 1.0868 1.1025 1.1236 1.1449 1.1664 3 1.0612 1.0927 1.1168 1.1249 1.1330 1.1576 1.1910 1.2250 1.2597 4 1.0824 1.1255 1.1587 1.1699 1.1811 1.2155 1.2625 1.3108 1.3605 1.1041 1.1593 1.2021 1.2167 1.2313 1.2763 1.3382 1.4026 1.4693 6 1.1262 1.1941 1.2472 1.2653 1.2837 1.3401 1.4185 1.5007 1.5869 7 1.1487 1.2299 12939 1.3159 1.3382 1.4071 1.5036 1.6058 1.7138 00 1.1717 1.2668 1.3425 13686 1.3951 1.4775 1.5938 1.7182 1.8509 9 1.1951 1.3048 1.3928 1.4233 1.4544 1.5513 1.6895 1.8385 1.9990 10 1.2190 1.3439 1.4450 1.4802 1.5162 1.6289 1.7906 1.9672 2.1589 20 1.4859 1.8061 2.0882 2.1911 2.2989 2.6533 3.2071 3.8697 4.6610 Periods 9% 10% 11% 12% 13% 14% 15% 20% 25% 0 1.0000 10000 10000 10000 10000 10000 1.0000 1.0000 1.0000 1 1.0900 1.1000 1.1100 1.1200 1.1300 1.1400 1.1500 1.2000 1.2500 1.1881 1.2100 1.2321 1.2544 1.2769 1.2996 1.3225 1.4400 1.5625 N 1.2950 1.3310 1.3676 1.4049 1.4429 1.4815 1.5209 1.7280 1.9531 w 4 1.4116 1.4641 1.5181 1.5735 1.6305 1.6890 1.7490 2.0736 2.4414 5 1.5386 1.6105 1.6851 1.7623 1.8424 1.9254 2.0114 2.4883 3.0518 6 1.6771 1.7716 1.8704 1.9738 2.0820 2.1950 2.3131 2.9860 3.8147 7 1.8280 1.9487 2.0762 2.2107 2.3526 2.5023 2.6600 3.5832 4.7684 00 1.9926 2.1436 2.3045 2.4760 2.6584 2.8526 3.0590 4.2998 5.9605 9 2.1719 2.3579 2.5580 2.7731 3.0040 3.2519 3.5179 5.1598 7.4506 2.3674 2.5937 2.8394 3.1058 3.3946 3.7072 4.0456 6.1917 9.3132 10 20 5.6044 6.7275 8.0623 9.6463 11.5231 13.7435 16.3665 38.3376 86.7362