13–14. After paying off a car loan or credit card, don’t remove this amount from your budget. Instead, invest in your future by applying some of it to your retirement account. Joe Jan wants to receive...

13–14. After paying off a car loan or credit card, don’t remove this amount from your budget. Instead, invest in your future by applying some of it to your retirement account. 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?