You want a retirement fund of $500,000 when you retire in 20 years. You are able to earn 10 percent on your investments. How much should you deposit each year to build the retirement fund that you want? 5. On January 1, 2006, Vigeland Company completed the following transactions (assume a 10 percent annual interest rate): a. Bought a delivery truck and agreed to pay $30,000 at the end of three years. What is the cost of the truck that should be recorded at the time of purchase? b. Established a savings account by depositing a single amount that will increase to $40,000 at the end of seven years. What single amount must be deposited in this account on January 1,2006? c. Decided to lease a certain property for 10 years at the following annual rentals, payable at the end of each year. The interest rate is 10%. a. Years 1 and 2$1,000 per year b. Years 3 to 6$2,000 per year c. Years 7 to 10$2,500 per year What is the present value of the lease