Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to

have $$12,000$ available each year for various school and living expenses.

If he earns $5$ percent on his money, how much must he deposit at the start of his studies to be able to

withdraw $$12,000$ a year for three years?

Use the TVM keys on your calculator $...$ NOT the tables in the book

Enter your answer as a negative value in the form: $-$$$,n.$

Numeric Response