Assume your child (currently age 2 will be attending college when they turn 18 (16 years from now). You want to save enough money to pay for some of their college education when the time comes. Your estimate is that you will need $ , per year for 4 years to pay for college tuition and books. How much do you have to invest at the end of each year for the net 16 years in order to be able to pay $, per year for four years when your child begins to attend college? Assume the annual withdrawls will be at the end of each year, How much do you have to deposit in your account and the end of each of the 16 years in order to be able to withdraw $, at the end of each of the next 4 years? Assume the same facts except the withdrawls will be at the beginninh of each of the next 4 years. Compute the required annual deposit at the end of each of the next years.

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At the end of the 16 years you will have 1996645936207 For the remaining 4 ye... View the full answer