Question: i am looking for the answer for question 20, the other image contains prerequisite information from previous questions Tom's daughter is going to college 5

Tom's daughter is going to college 5 years from now. And Tom is preparing to pay for his daughter's college tuition. The tuition is $20,000 per year. Tom's daughter is expected to finish her degree four years after she first enters the college. Question 18 4 pts Assume that the college allows students to pay their tuition the end of the year, what is the amount of money that Tom needs to have when his daughter first enters the college? The discount rate is 4% A $80,000 B. $83,672.54 C. $20,000 O D. $72.597.90 E $78.236 15 Question 19 4 pts Currently, Tom is planning to set up an education account with 4% annual return. He is planning to put in $30,000 right now, and make annual deposits in the next five years until his daughter starts college. How much does Tom need to deposit every year so that he has enough money to cover the tuition for the four years of college? Assume that the 4% return stops when Tom's daughter enters the college. A $5,905.31 B. $14.183.8 C. $10.229.75 D. $8.1838 E $6,664.73 D. $8.183.8 E. $6,664.73 Question 20 4 pts Five years later, when Tom's daughter enters the college, the college is experiencing some financial difficulty. So all students need to pay their tuitions at the beginning of the year. And the college is increasing the tuition by 1% per year starting next year. (The first tuition is still 20,000) How much does Tom need to add to the last deposit because of this change in tuition policy? A. $3,545.95 B. $4,006.65 OC. $5.717.26 D. $4,000 E. $2,067.91 U A $5,905.31 B. $14.183.8 C. $10.229.75 D. $8,183.8 E. $6,664.73 Question 20 4 pts Five years later, when Tom's daughter enters the college, the college is experiencing some financial difficulty. So all students need to pay their tuitions at the beginning of the year. And the college is increasing the tuition by 1% per year starting next year. (The first tuition is still 20,000) How much does Tom need to add to the last deposit because of this change in tuition policy? A. $3,545.95 B. $4.006.65 C. $5,717.26 D. $4,000 E. $2,067.91 Question 21 3 pts Tom's daughter is going to college 5 years from now. And Tom is preparing to pay for his daughter's college tuition. The tuition is $20,000 per year. Tom's daughter is expected to finish her degree four years after she first enters the college. Question 18 4 pts Assume that the college allows students to pay their tuition the end of the year, what is the amount of money that Tom needs to have when his daughter first enters the college? The discount rate is 4% A $80,000 B. $83,672.54 C. $20,000 O D. $72.597.90 E $78.236 15 Question 19 4 pts Currently, Tom is planning to set up an education account with 4% annual return. He is planning to put in $30,000 right now, and make annual deposits in the next five years until his daughter starts college. How much does Tom need to deposit every year so that he has enough money to cover the tuition for the four years of college? Assume that the 4% return stops when Tom's daughter enters the college. A $5,905.31 B. $14.183.8 C. $10.229.75 D. $8.1838 E $6,664.73 D. $8.183.8 E. $6,664.73 Question 20 4 pts Five years later, when Tom's daughter enters the college, the college is experiencing some financial difficulty. So all students need to pay their tuitions at the beginning of the year. And the college is increasing the tuition by 1% per year starting next year. (The first tuition is still 20,000) How much does Tom need to add to the last deposit because of this change in tuition policy? A. $3,545.95 B. $4,006.65 OC. $5.717.26 D. $4,000 E. $2,067.91 U A $5,905.31 B. $14.183.8 C. $10.229.75 D. $8,183.8 E. $6,664.73 Question 20 4 pts Five years later, when Tom's daughter enters the college, the college is experiencing some financial difficulty. So all students need to pay their tuitions at the beginning of the year. And the college is increasing the tuition by 1% per year starting next year. (The first tuition is still 20,000) How much does Tom need to add to the last deposit because of this change in tuition policy? A. $3,545.95 B. $4.006.65 C. $5,717.26 D. $4,000 E. $2,067.91 Question 21 3 pts
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