Jake's housing costs are $11,000 per year. He anticipates that these costs will increase by $500 per year. He would like to set aside money now to pay for his housing costs for the next 3 years; the money is invested in an account that earns 6% compounded annually. How much would Jake need to put in this account to make sure he can cover his housing costs? Click here to access the TVM Factor Table calculator. $ Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is 20.