Question: solve the exercise below using the timeline. Explain all steps you followed. 30. your younger sister Linda will start college in 5 years. she has

solve the exercise below using the timeline. Explain all steps you followed.

30. your younger sister Linda will start college in 5 years. she has just informed you that she wants to go to Hampton University, which will cost $17.000 per year for 4 years( cost assume to come at the end of each year). Anticipating Linda's ambitions, your parents started investing $2.000 per year 5 years ago and will continue to do so for 5 years more. Use 10% as the appropriate i terest rate throughout this problem ( for discounting or compounding)

how much will your parents have to save each year for the next five years in addition to the $2.00" they are cutrently saving to have the necessary funds for linda education? ( round your final answer to 2 decimal places)

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