Re-work Problem 4-89 when the tuition increase for your sophomore year is 10%; for your junior year, 12%; and for your senior year, 8%. Your parents’ savings account earns 4% for the first two years, then it increases to 6% for the last two years.

Data from Problem 4-89:

It is likely that your college tuition will increase an average of 8% per year for the next 4 years. The annual cost of tuition at the beginning of your  freshman year in college will be $12,000 (A₁ ). How  much money will you and your parents have to deposit in a mutual fund account one year prior to your freshman year to pay for your tuition for the 4 years you will spend earning your degree in engineering? The mutual fund will earn an average of 5% annual interest.