A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $43,000 when the child reaches the age of 18?...

A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $43,000 when the child reaches the age of 18? Assume the money earns 7% interest, compounded quarterly. (Round your answer to two decimal places.)