1) the time line, 2) inputs to, and 3) output from the financial calculator.

4. Starting next year, you will need $7,000 annually for 4 years to help fund your living expenses at college. (one year from today you will withdraw the first $7,000.) Your relatives deposit an amount today in an account paying 5% annual interest, which will provide the needed living costs while you are at the college. How large must your relatives' deposit be