1. At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of 4.3% compounded monthly. You figure your child will need $30,000 at age 18 to begin college. What monthly deposit is required? (Round your answer to the nearest cent.) $ per month

2. You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4400 per month. You have access to an account that pays an APR of 4.8% compounded monthly. What size nest egg do you need to achieve the desired monthly yield? (Round your answer to the nearest cent.) $

3. We are considering the effects of starting early or late to save for retirement. Assume that each account considered has an APR of 6% compounded monthly. Against expert advice, you begin your retirement program at age 40. You plan to retire at the age of 65. What monthly contributions do you need to make to save up a nest egg of $227,599.63? (Round your answer to the nearest cent.) $

4. We consider the effects of starting early or late to save for retirement. Assume that each account considered has an APR of 6% compounded monthly. If you begin by depositing $100 each month into an account at age 20, your nest egg if you retire at age 65 will be $275,599.26. If you start making monthly contributions at age 40 and plan to retire at age 65, your monthly contributions will be much higher in order to match this nest egg amount. Compare your monthly deposit of $100 at the age of 20 to your monthly deposit at the age of 40. Compare the total amount deposited in each case.