Question: Solve WITHOUT USING EXCEL. Please show all work. Thank you! You have a child that is 6 years old, and would like to start saving

Solve WITHOUT USING EXCEL. Please show all work. Thank you!

You have a child that is 6 years old, and would like to start saving up for their college education. You would like to be able to pay $24,000 a year for four years of college starting 12 years from now (when the child turns 18). How much do you need to save annually over the 12 years to meet your goal, if you can earn a real annual return of 3.5% on your college savings account

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