Question: Starting next year, you will need $ 3 0 , 0 0 0 annually for 4 years to complete your education. ( One year from

Starting next year, you will need $30,000 annually for 4 years to complete your education. (One year from today you will withdraw
the first $30,000.) Your uncle deposits an amount today in a bank paying 6% annual interest, which will provide the needed $30,000
payments.
a. How large must the deposit be? Do not round intermediate calculations. Round your answer to the nearest cent.
$
b. How much will be in the account immediately after you make the first withdrawal? Do not round intermediate calculations. Round
your answer to the nearest cent.
$
Starting next year, you will need $30,000 annually for 4 years

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