Question: Nate is saving for his son's college. He expects to need to need 5 annual payments of $35,000 each, with the first annual payment occurring

Nate is saving for his son's college. He expects to need to need 5 annual payments of $35,000 each, with the first annual payment occurring 10 years from today. Ideally, Nate would like to fully fund the entire bill with a single deposit today. If the discount rate is 4%, how much should he deposit? Round your answer to the nearest dollar.\ Nate is saving for his son's college. He expects to need to need 5 annual payments of $35,000 each, with the first annual payment occurring 10 years from today. Ideally, Nate would like to fully fund the entire bill with a single deposit today. If the discount rate is 4%, how much should he deposit? Round your answer to the nearest dollar.

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