Your daughter will start college one year from today at which time her first tuition payment of $58000 must be made.

Your daughter will start college one year from today at which time her first tuition payment of $58000 must be made. Assuming that tuition does not increase over time and that your daughter remains in school for four years , how much money do you need today in your savings account , earning 5% per annum, in order to make the tuition payments over the next four years?