Saving for College: You estimate that you will need about $75,000 to send your child to college in 8 years. You have about $30,000 now to plan for your childs tuition. If you can earn 10% per year, will you make it? At what rate will you just reach your goal?

Saving for Vacation: Your goal is to have $3,000 to withdraw when it becomes time for you to leave for Cancun for the summer. The maximum you can set aside from your part-time job income today is $1,000. If the rate is 4%, for how long do you have to wait until you can take off?