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