1. The Templetons are setting up a fund to help finance their granddaughter's college education. They want her to be able to withdraw $3000 every three months for 3 years after she starts college. Her first withdrawal will be 521 years from now. If the fund can earn 7.2% compounded quarterly, what single amount contributed today will provide for the withdrawals? 2. Ms. Sevard purchased a deferred annuity from an insurance company for $10,971. The money used to purchase the annuity will earn 6% compounded quarterly. The annuity will provide sixteen quarterly payments of $1000. If the first payment is to be recelved on October 1,2009 , when did Ms. Sevard purchase the deferred annuitv