You want to have $$2\mathrm{.}3$ million in your savings account when you retire. You plan on investing a single lump sum today to fund this goal. You are planning on investing in an account which will pay $6\mathrm{.}2$ percent annual interest. Which of the following will reduce the amount that you must deposit today if you are to have your desired $$2\mathrm{.}3$ million on the day you retire?

I. Invest in a different account paying a higher rate of interest.

II$.$ Invest in a different account paying a lower rate of interest.

III. Retire later.

IV$.$ Retire sooner.

Group of answer choices

I only

I and IV only

II and III only

I and III only

II only