Your sister is a freshman in high school and recently received a $300,000 scholarship. The scholarship...

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Your sister is a freshman in high school and recently received a $300,000 scholarship. The scholarship mandates that she save this money for the next 3 years until she begins college. She plans on attending Harvard and completing her degree in 4 years. Expenses at Harvard will be $120,000 due at the beginning of each academic year. She shows so much potential that you decide to contribute to her savings to ensure her expenses are completely covered. If all savings are deposited in an account that pays 6% interest, how much do you need to contribute to her account at the end of each year to make sure she has enough money to pay for Harvard? Contribute approximately $18,378 per year Contribute approximately $26,215 per year Contribute approximately $38,540 per year. Contribute approximately $56,540 per year Your sister is a freshman in high school and recently received a $300,000 scholarship. The scholarship mandates that she save this money for the next 3 years until she begins college. She plans on attending Harvard and completing her degree in 4 years. Expenses at Harvard will be $120,000 due at the beginning of each academic year. She shows so much potential that you decide to contribute to her savings to ensure her expenses are completely covered. If all savings are deposited in an account that pays 6% interest, how much do you need to contribute to her account at the end of each year to make sure she has enough money to pay for Harvard? Contribute approximately $18,378 per year Contribute approximately $26,215 per year Contribute approximately $38,540 per year. Contribute approximately $56,540 per year

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