Question: 1- Starting next year, you will need $10900 annually for 4 years to complete your education. (One year from today you will withdraw the first

1- Starting next year, you will need $10900 annually for 4

1- Starting next year, you will need $10900 annually for 4 years to complete your education. (One year from today you will withdraw the first $10900.) Your uncle deposits an amount today in a bank paying 5% annual interest, which will provide the needed $10900 payments. a) How large must the deposit be? (1.5 point) b) How much will be in the account immediately after you make the first withdrawal? (2 point)

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