Question: your cousin is currently 14 years old. She will be going to college in four years. Your aunt and uncle would like to have $115,000

your cousin is currently 14 years old. She will be going to college in four years. Your aunt and uncle would like to have $115,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.2% per year, how much money do they need to put into the account today to ensure that they will have $115,000 in four years?

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