Your cousin is currently 13 years old. She will be going to college in 5 years. Your aunt and uncle would like to have $105,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 3.8% peryear, how much money do they need to put into the account today to ensure that they will have $105,000 in 5 years?

The amount they need to put away today is?