Round your answer to the nearest cent. For accounts where interest is compounded annually, the principal P needed to ensure an amount A has been accumulated in the time period z when deposited at interest rate r is given by the formula P A (1+r)' Morgan is 5 years old. If her mother wants to have $20000 for Morgan's first year of college (in 13 years), how much should be invested now if the account pays a 6.720% fixed rate? P=S