Question: (CHAPTER 6) You'll be leaving for your study abroad program soon. While there, you will need to be able to withdraw the following amounts of

 (CHAPTER 6) You'll be leaving for your study abroad program soon.

(CHAPTER 6) You'll be leaving for your study abroad program soon. While there, you will need to be able to withdraw the following amounts of money at the end of each respective year: End of year 1: $7,000 End of year 2: $9,000 End of year 3: $12,000 These amounts of money will be withdrawn from your savings account that pays you a 6.0% interest rate every year. How much should you deposit today, so that it's just enough to make the required future money withdrawals? (Increase decimal places for any intermediate calculations, from the default 2 to, for example, 6 or even higher. The more the better! Only round your final answer to TWO decimal places: for example, 1,000.23. Do NOT use "$" in your answer.)

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