5-2: Future Values 5-7: Future Value of an Ordinary Annuity Required lump sum payment Starting next year, you will need $10,000 annually for 4 years to complete your education. (One year from today you will withdraw the first $10,000.) Your uncle deposits an amount today in a bank paying 8% annual interest, which will provide the needed $10,000 payments a. How large must the deposit be? Round your answer to the nearest cent $ b. How much will be in the account immediately after you make the first withdrawal? Round your answer to the nearest cent