Dontrall: So, do you think that we're ready to do a problem? Noah: Sure! Here's one from our homework. You work and I'll work, and we'll see if our answers match. Dontrall: OK. Let's get started. Homework Problem Sarah wants to reduce the cost of graduate school by starting a savings plan today. As a sophomore, she has estimated that she has three years to accumulate the $22,500 that she needs to help cover some of her projected expenses. The account she would open would earn 8% per year compounded annually. So how much would she have to deposit today to accumulate $22,500 in three years? Or, stated differently, what is the value of $22,500? (Note: Round your answer to the nearest whole dollar.) so that she would have the desired $22,500 I think that Sarah would have to deposit at the end of three years. Is that what you got when you solved the problem? Noah: Yes it is! I think we've got a good start on getting ready for Dr. Johnson's next quiz