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Dan Weaver wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $24,000 in
Dan Weaver wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $24,000 in four years, $25,900 in five years, $27,200 in six years, and $28,600 in seven years. If he can put money into a fund that pays 6 percent interest, what lump-sum payment must Dan place in the fund today to meet his college funding goals? Round the answer to the nearest cent. Round PV-factor to three decimal places.
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