Next question rs later when your first child start (Future value of an annuity) Let's say you deposited $140,000 in a 529 plan (a tax advantaged college savings plan) hoping to have $430,00 and 3 years later the account balance dropped to $120,000. Let's look at what you need to do to get the college savings plan back on track. a. What was the original annual rate of return needed to reach your goal when you started the fund 3 years ago? b. With only $120,000 in the fund and 12 years remaining until your first child starts college, what annual rate of return would the fund have to make to reach your $430,000 goal if you add nothir c. Shocked by your experience of the past 3 years, you feel the college fund has invested too much in stocks, and you want a low-risk fund in order to ensure you have the necessary $430,000 i end-of-the-month deposits to the fund as well. You find you can get a fund that promises to pay a guaranteed annual return of 4 percent which is compounded monthly. You decide to transfer th necessary monthly deposits. How large of a monthly deposit must you make into this new fund? d. After seeing how large the monthly deposit would be (in part c of this problem), you decide to invest the $120,000 today and $400 at the end of each month for the next 12 years into a fund co and hope for the best. What APR would the fund have to earn in order to reach your $430,000 goal? a. If you invested $140,000 into a fund 3 years ago and hoped to have $430,000 available 15 years later when your first child starts college, what was the original annual rate of return needed to ago? % (Round to two decimal places.) Next question rs later when your first child start (Future value of an annuity) Let's say you deposited $140,000 in a 529 plan (a tax advantaged college savings plan) hoping to have $430,00 and 3 years later the account balance dropped to $120,000. Let's look at what you need to do to get the college savings plan back on track. a. What was the original annual rate of return needed to reach your goal when you started the fund 3 years ago? b. With only $120,000 in the fund and 12 years remaining until your first child starts college, what annual rate of return would the fund have to make to reach your $430,000 goal if you add nothir c. Shocked by your experience of the past 3 years, you feel the college fund has invested too much in stocks, and you want a low-risk fund in order to ensure you have the necessary $430,000 i end-of-the-month deposits to the fund as well. You find you can get a fund that promises to pay a guaranteed annual return of 4 percent which is compounded monthly. You decide to transfer th necessary monthly deposits. How large of a monthly deposit must you make into this new fund? d. After seeing how large the monthly deposit would be (in part c of this problem), you decide to invest the $120,000 today and $400 at the end of each month for the next 12 years into a fund co and hope for the best. What APR would the fund have to earn in order to reach your $430,000 goal? a. If you invested $140,000 into a fund 3 years ago and hoped to have $430,000 available 15 years later when your first child starts college, what was the original annual rate of return needed to ago? % (Round to two decimal places.)