Answer:
$3316 should be invested.
Explanation:
Since, the amount formula in compound interest is,

Where, P is the principal amount,
r is the rate per period,
t is the time in years,
Here,
A = $ 60,000,
r = 10.5% = 0.105
t = 29 years,
By substituting value,


Hence, $ 3316 should be invested.