You are a financial planner. Your clients primary saving objective is to provide for the college education of her two children. Her children are currently 4 and 6 years old. Assume that tuition will cost $30,000 per year for four years for each child.

A. How much must your client have in the college account today so that she is able to pay for the tuition of both children?

B. Assume your answer to Part A is $75,000. If your client currently has no money saved for her childrens college, how much must she deposit in each year to fund their education? Assume the first deposit is made today and the last deposit is made 11 years from today (for a total of 12 annual deposits). PLEASE EXPLAIN THE PROCESS - rate is 8%

C. Assume your answer to Part A is $75,000. Your client wants to deposit $6,000 today and is willing to grow that deposit amount by 10% in each of the next 11 years for a total of 12 deposits. (For example, next years deposit will be $6,600.) If she follows this saving plan, will she have saved enough for her childrens education? PLEASE EXPLAIN THE PROCESS - rate is 8%