Your daughter is currently 8years old. You anticipate that she will be going to college in 10years. You would like to have $143,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 8% per year, how much money do you need to put into the account today to ensure that you will have $143,000 in 10 years?

Your deposit today should be $.......