Y$$ou need $$88,500$ in $6$ years.

Required:

If you can earn $0\mathrm{.}55$ percent per month, how much will you have to deposit today? $($Do not include the dollar sign $($$$).$ Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to $2$ decimal places $($e$.$g$.,32\mathrm{.}16).)$