If one year of college currently costs $20,000, how much will it cost Grand Rapids, Michigans resident Michelle Spindle to pay for one year of schooling for newborn daughter, Melissa, 18 years from now, assuming a 3 percent annual rate of inflation? Use Appendix A-1 or the Garman/Forgue companion website. Round your answer to the nearest dollar. Round Future Value of a Single Amount in intermediate calculations to four decimal places.

XIKER NEW w THERE X00305 SOUS IPO CO HE ROUTE 11 11 18 42 TUO RAK BICI NEM TARE 30 TE 1301 SK HR 1211 HV A WH w Lin | | | | | | | | | | | HTH 1 11 RE 12 SHI TEM W! KEX 3 2 COX ACO XICS ON CO II an . NEM A TH HOVE 2011 IKE I " WIB HY NET KIT HII I GER WE 300 C ht INI SE TREIH THAI wer LAT: I.EE HO IS DSC GE TES HOTE SEHO BEXTL . LE In HI IKE: C 20000 KAS CS RCES Man S01 EX X HXH MARCH 1023 SE HUMOR DE BE KEC CHERE 11 . IU MA I nel 1 OL NI SD OX WT INTI AT 102 M ICE SEE THE V ON TEX MIS Wh WS 1007 THE IN no MI VE RRE 1 CXIII TRE 13 VIST TON WHT! !! ! HUN YE I 971 RE ws IE 1.0 11 MIT MET I III IS hi WIFI Ili il IRMY WT w TRE ch HILLIT 11 C HE VARI MI! 201 OW NE II FOX CS Hei rari . E ET , WW O: WO WP il 2 1001 COM ONS IX w LET or ar SITE 04 en 58 522 49 16 TU 0. 10 11110 VE! IM SIE TA HI 1 HALF 14 STU 30 SI TUT 275 20 FI TIKS SU 2919 TS SY 22 WS TH TU 09138 TY ITS T! 1958 TIU NI 100 T 100 + 104 105 13 X TONE TO 1560 1 CH 10 253545 15 100 10 T313 ITI 17% 330 15% 16 san SEX 115 SE 753 3 104 Future Value of a Known ) Appendix A.1 Putus Amt at the End of n Perlada) (Used to compete the compounded