You would like to give your newborn daughter $250,000 towards her college education, 18 years from today. How much money must you set aside today for this purpose if you can earn 5 percent on your investments?

You would like to give your newborn daughter $250,000 towards her college education, 18 years from today. How much money must you set aside today for this purpose if you can earn 5 percent on your investments?