0. suppose you na just had your mist child and you want to begin saving for their college education. You estimate that with inflation, the cost of four years of college at a top university will cost a total of $225,000 in 18 your child graduates from high school. How much do you need to invest at the end of each month (part a) or year (part b) for the next 18 years to accumulate the $225,000 assuming: years when a) a 6% annual interest rate compounded monthly? b) an 8% annual interest rate compounded annually? you can (20 pts.) 9. Retirement Planning: Assume that you are 25 and, after spending 3 years after college backpacking across Europe to "find yourself', you have just accepted your first job. It pays $60,000 per year and is expected to increase at a rate of 2.5% per year. You plan to retire at age 65 after working for 40 years. You wish to have enough retirement savings that withdraw 90% of your final salary at the end of each of the next 25 years (through age 90). a) How much must you save at the end of each year during your employment to reach your goal if you can invest in a fund that is expected to pay an 8% return per year compounded annually while you are saving/working and while you are retired? b) Assume you have followed the savings plan and have reached retirement age with the total amount you found in part a. By how much would you have to adjust your annual withdrawals during retirement so that your money still lasts until you are 90 if returns fall to 4% annually during your retirement (again, returns remain at 8% during your 40 years of employment)