1. A young couple have decided to make advance plans for financing their 3-year-old son's college education. Money can be deposited at 7% compounded annually. What annual deposit on each birthday from the 4th to the 15th inclusive must be made to provide $30,000 on each birthday from the to the 21st inclusive? If the annual deposit is 5000, what remains in the account after the last withdrawal? 18th 2. Aman has borrowed $10,000 which he will repay in 60 equal monthly installments. After his twenty-fifth payment he desires to pay the remainder of the loan at the time of the 26th payment in a single payment. At an interest rate of 2% per month what is the amount of the payment?