When you retire 45 years from now, you want to have $1.25 million saved. You think you canearn an average of7.6 percent on your investments. To meet your goal, you are trying to decide whether todeposit a lump sum today, or to wait and deposit a lump sum five years from today to fund this goal. How muchmore will you have to deposit if you wait for five years before making the deposit?A)$17.414.14B)$21.319.47 C)$19.891.11D) $20.468.85E) $13,406.78