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Exam # 3 ( Chapters 2 0 , 1 8 , 1 0 ) 1 8 Patricia and Joe Payne are divorced. The divorce settlement

Exam #3(Chapters 20,18,10)
18
Patricia and Joe Payne are divorced. The divorce settlement stipulated that Joe pay $485 a month for their daughter Suzanne until she turns 18 in 4 years. Interest is 6% a year. How much must Joe set aside today to meet the settlement? (Do not round intermediate calculations. Round your answer to the nearest cent.)
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