Question: Starting next year, you will need $5,000 annually for 4 years to complete your education. (One year from today you will withdraw the first $5,000.

 Starting next year, you will need $5,000 annually for 4 years

Starting next year, you will need $5,000 annually for 4 years to complete your education. (One year from today you will withdraw the first $5,000. ) Your unde deposits an armount coday in a bank poying 7 \% annubl interest, which will provide the needed $5,000 payments. a. How large must the deposit be? Do not round intermediate caiculations. Round your answer to the nearest cent: 3 B. How much will be in the account immedistely after you make the fint wathdrawal? Do not round intermediate caicuiations. Round your answer to the neareat cent

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