A)***present answer in spreadsheet (excel format)*** A couple wants to begin saving money for their child's college education. Given that the child enters a four year college after 18yrs, with an estimated annual cost of $20,000 expected to increase by $1000 each year over the 4year duration. Assume an 8% interest rate compounded annually. How much money would have to be invested now, to accumulate enough money to cover the estimated college expenses? ***present answer in spreadsheet (excel format)***

B) ***present answer in spreadsheet (excel format)*** Alternatively the couple may choose to invest a constant amount up to the end of the 17th year in order to cover the estimated college expenses. How much should they expect to invest annually? (ref. (A)) ***present answer in spreadsheet (excel format)***