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In order to save for your childs college education, youve decided to begin depositing money into the local bank which is advertising a savings rate of 6% APR. This morning you opened the savings account with a deposit of $1000. $1000 into the account one year from today. You plan to deposit another After the second deposit, youll make no additional deposits for a few years, but then, 5 years from today, youll resume making annual deposits. More specifically, starting in 5 years, you plan to make a total of 10 annual deposits (i.e. at t-5, 6, 7, 13, 14). The first of these deposits (i.e. at t = 5) will be $2000. The subsequent 9 deposits will increase in size by 3% per year. All of the money will remain in the account (earning 6% per year) until 18 years from today, when it will be withdrawn and used for college expenses. Part A) How much money will you have in the account after 4 years? Part B) How much money will you have in the account after 14 years? Part C) How much money will you have in the account after 15 years? Part D) How much money will you have in the account after 18 years? (when junior goes to college) Part E)-If the deposits from time 5 to 14 grow at 6% per year (not 3% per year), then how much money will you have in the account after 18 years?Youve decided to invest $1200 today in a local bank that is advertising a savings rate of 8% APR- guaranteed for 5 years. After 5 years, you plan to pull all of the money out of the bank, and invest with your Uncle Bob, who says hell pay you an interest rate of 6% APR for each of the next 7 years. After that, you plan to withdraw all of your money from Uncle Bob, and simply put the money under your mattress for 10 years. Hence, overall, youll be investing your money for 22 years. Part A)What interest rate are you earning during the 10-year period when your money sits under the mattress? Part B) How much money will you have after 8 years? Part C) How much money will you have after 12 years? Part D) How much money will you have after 13 years? Part E)How much money will you have after 22 years?HELP

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