John and Jane have been saving to pay for their daughter Macy's college education. Maey just turned 9 (0) she will be entering college 9 years from now (att-9). College tuition and expenses are currently $20,000 a year, but they are expected to increase at a rate of 6% a year. Tuition and other costs will be due at the end of years 9, 10, 11 and 12 To fund the tuition, John and Jane plan to save $15,000 in their college savings account today (att). Additionally they plan to save $5,000 in each of the next 3 years (att - 1, 2, and 3). Then they plan to make equal al contributions in each of the following years, t 4, 5, 6, 7 and 8. They expect their investment account to cam 10 How large must the annual payments at t - 4.5, 6, 7 and 8 be to cover Macy's anticipated college conti? 3 $10,817.03 $14.993.59 $12,127.51 $9.422.02 $13.323.61