1. The Spencers are looking to save money for their childrens college tuition. They do not want to take any risk with their money and will only save the money with a bank. They know ahead of time when they will need the money and dont anticipate ever withdrawing it early.

What type of savings tool would you recommend? Why?

If they save this money in $1,000 increments, find the 10 year rate for this investment. Also, include the financial institution that is making this offer.