3.0 % per year for the next 35 years ; however , the cost of a college education will increase by 4.0 % per year for the junior college and state schools . Also rwith the desirability of lakefront vacation homes , the house and property in Georgia will probably increase at a rate of 5.0 % per year , while his current home will increase in value at a rate of 3.0% per year. Jane hopes and expects her annual salary will increase by at least 4.0% per year. Note : For each of the computations completed below ranswers can be stated to the nearest dollar. Questions 1. (5 points )Based on the home price inflation rates given . compute the value of the retirement home and Jimmy and Jane's current home when they wants to retire in 35 years . 2. (5 points )Based on the education inflation rates given ,compute the cost of college for Emmitt and Patricia when they will be going to school . Hint : Need to calculate a cost for each of four year , for each child . 3. (5 points )Based on the inflation rate given .compute the amount of money that Jimmy and Jane expect they will need to live on during their first year of retirement in 35 years. 4. (5 points ) If Jane receives her expected annual raises ,what will be her salary at retirement? 5. (5 points} If the emergency money market funds are not used during the next 35 years rwhat will be the value of the emergency fund at retirement? 6. (5 points )Assuming that Jane's employer continues to put $5,000 every year into a 401 {k} retirement and the account remains in the stock mutual fund . how much will be in the retirement account in 35 years ? 7. (10 points )Assuming that Jimmy and Jane have no money set aside for the children's college at this time . approximately how much will they have to save per month for Emmitt's education ,for Patricia's education .if they earn 6.0% on the college saving funds and keep it invested through the end of the last college tuition payment