Question: Nicole needs $44,100 as a down payment for a house 6 years from now. He earns 4.5 percent on his savings. Theo can either deposit

Nicole needs $44,100 as a down payment for a house 6 years from now. He earns 4.5 percent on his savings. Theo can either deposit one lump sum today for this purpose or he can wait a year and deposit a lump sum. How much additional money must he deposit if he waits for one year rather than making the deposit today? A. $878.98 B. $1,911.13 C. $1,138.90 D. $1,523.89 E. $1,512.76

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