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3 Brenda Young desires to have $21,000 eight years from now for her daughter's college fund. If she will earn 7 percent (compounded annually) on

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3 Brenda Young desires to have $21,000 eight years from now for her daughter's college fund. If she will earn 7 percent (compounded annually) on her money, what amount should she deposit now? Use the present value of a single amount calculation. Use Exhibit 1-C. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) 5 points Amount to be deposited $ 2,046.78

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