IUX, * A-D-A- MODULABLOX Aabout Aabel MOD Normal No Spac... Heading 1 Heading 2 Title SE E Font Paragraph Styles (1) Problem #1 Chapter 2 - Multiple Cash Flows - Saving for the Future College Savings) & Using Goal Seek You and your spouse would like to help your daughter save for her college education (specifically her 4-year Bachelor's degree). Your daughter, Sofia, is 3 years old and you both anticipate Sofia will go to college at the age of 18. You both have decided you will be able to help and contribute to Sofia's college education. You, her parents, will withdraw $25,000 each year for each of the 4 years when she is in school (her 18 19th, 20th and 21" birthday) to pay for her college education. The problem is you and your spouse can deposit (save) $2,400 each year starting on her 3rd birthday until right before she goes to college on her 18" birthday. All account balances will earn 6% per year. Question la. Is the $2,400 sufficient to cover the anticipated college expenses? Question 1b. How much should you put aside each year in order to cover the anticipated college expenses? (Use Goal Seek to determine and solve for this answer)