You need to have $20,000 in five years to payoff a home equity loan. You can invest in an account that pays 6 percent compounded quarterly. How much will you have to invest today to attain your target in five years?

You need to have $20,000 in five years to payoff a home equity loan. You can invest in an account that pays 6 percent compounded quarterly. How much will you have to invest today to attain your target in five years? (Round to the nearest dollar.)