Sofi wants to make withdrawals of $40,329 at the end of each year for 5 years to pay for college. Her first withdrawal occurring in 14 years. She plans to finance these withdrawals with 3 savings payments of $25,329 in 1 year from today, $X 5 years from today and $13,785 9 years from today. How much must she deposit 5 years from today (X) to meet her goal if she can borrow and lend at 6.13% interest per year compounded annually.

Hint: this is a 2 part problem, the present value of the annuity, what she plans to spend will define how much she needs to save. From there you can backout X.

The answer given was 62,172.82. I'm just not sure how to arrive to this answer on my own. Can someone help me? Thank you!