Aimee recently inherited some money and wants to use some of it to set up a college fund for her 18-year-old daughter. Aimee wants to make the investment immediately, and she wants to invest enough money into the college fund so her daughter will be able to pull out $12,000 at the end of each year for the next 4 years. How much does Aimee need to deposit now, assuming an interest rate of 8%?

Question 12 options: $16,325 $54,073 $39,746 $48,000