Question: Problem 5-26 Calculating Annuity Present Values [LO 1 Beginning three months from now, you want to be able to withdraw $3,100 each quarter from your

 Problem 5-26 Calculating Annuity Present Values [LO 1 Beginning three months

Problem 5-26 Calculating Annuity Present Values [LO 1 Beginning three months from now, you want to be able to withdraw $3,100 each quarter from your bank account to cover college expenses over the next four years If the account pays .71 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Amount needed

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