what would the signing bonus need to be to satisfy Dr. Sanders?

In employment contract negotiations between Dr. Sanders and Hospital XYZ, Dr. Sanders has requested a college fund for his son worth $150,000 12 years from now. The hospital prefers to pay him a discounted value now as a signing bonus for this. Ignoring taxes and assuming Dr. Sanders is confident he can invest at an interest rate of 6.5 percent annually, what would the signing bonus need to be to satisfy Dr. Sanders?

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