if the cost of attending the university is $40,000 per year due at the beginning instead of the end of each year for four years, how much do you have to deposit in a lump sum to be able to pay for your sons college education for the next four years?

Your son just graduated from high school and he has been accepted for an undergraduate program at an Ivy League university. The cost of attending the university is $40,000 per year for tuition and room and board, due at the end of each year for four years. How much do you have to deposit in a lump sum today in a bank account that pays 7 percent interest per year to be able to pay for your sons college education for the next four years?