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(Choose 1 answer)
(20614) Present Value: Juan and Carla Herman plan to buy a time-share in six years in the amount of $16,860. In order to have adequate funds to do so, the Herman's want to make a deposit to their money market fund today. Assume that they will be able to earn an investment rate of 5.75%, compounded annually.How much will Juan and Carla need to deposit today to achieve their goal? (Round off to the nearest dollar.)
A. $19,138
B. $8,885
C. $12,055
D. $14,243
