Antonette needs $20,000 as a down payment for a house five years from now. She earns 4 percent on her savings. Antonette can either deposit one lump sum today for this purpose or she can wait a year and deposit a lump sum. How much additional money must Antonette deposit if she waits for one year rather than making the deposit today? 

A. $639.19

B. $657.54

C. $658.23

D. $659.04

E. $800.00

Answer rating: 100% (QA)

2 B 65754 Lets find Present value of the amount if she want... View the full answer