You plan to go to school for 4 years, starting next year.

You can pay $38,478 per year, starting next year or you can pay a single amount of $157,523 today.

If your investment account earns 2.82% compounded annually, how much would you save or lose in PV terms by paying all the tuition today?

Note: If you would lose money by paying today, make your answer with a negative sign (e.g., - 3458)