You have to make a balloon payment on your house five years from now of $15,000. If money can earn an average of 6 percent a year for the five-year period, how much will you have to place in the account today to have the $15,000 in five years? To solve this problem you would use the formula for the

a. present value of an ordinary annuity

b. future value of a lump sum

c. present value of an a lump sum

d. future value of an ordinary annuity