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Your daughter is currently 9 years old. You anticipate that she will be going to college in 9 years. You would like to have $157,000

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Your daughter is currently 9 years old. You anticipate that she will be going to college in 9 years. You would like to have $157,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 5% per year, how much money do you need to put into the account today to ensure that you will have $157,000 in 9 years? Your deposit today should be $| (Round to the nearest dollar.)

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