Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Get quick and reliable solutions to your questions from knowledgeable professionals on our comprehensive Q&A platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

Joe Jan wants to receive $22,000 each year for the next 22 years. Assume a 6% interest rate compounded annually. How much must Joe invest today? (Round your answer to the nearest cent.)