Question 3 10 points Save Answer Today is your best friend's birthday! Your friend decides to start saving for his 2-year long MBA degree. He will start the program on his 27th birthday. At that time, he will need to withdraw from his bank account $20,000 to pay for the tuition at the beginning of the first semester (6-month long) of the MBA program. Due to inflation, he is expecting that this cost will increase by S4 in the second semester, and will keep increasing at the same rate in each of the two remaining semesters of his study. And so, this will result in more and more money that he would need to withdraw from his bank account each time. The Wells & Wells Bank, from where you friend will be withdrawing the funds, pays him a 19 monthly interest rate. In order to save up exactly what he needs for the future MBA tuition, your friend will make his first deposit into his Wells & Wells Bank account in the amount of $1,809.0405 today, and he will continue to make an identical deposit at the beginning of each month until he turns 27 and starts his MBA degree What birthday is your best friend celebrating today? Let's break this problem into pieces. For intermediate calculations, increase the decimal placest Round all deltar amounts to whole number, and don't put the "S" sigros Money your friend will need to withdraw to cover the 1st tuition payment is Money your friend will need to withdraw to cover the 2nd tuition payment is s Money your friend will need to withdraw to cover the 3rd tuition payment is Money your friend will need to withdraw to cover the 4th tuition payment is s The total tuition needed in the bank account by the time your friend starts his MBA degree is $ The total number of deposits needed is (Whole number! Today, your best friend is celebrating his th birthday. (Whole number!)