3. Mr. and Mrs. Kelly want to save money to pay for their daughter's college expenses. Their daughter (Emery) has always dreamed of attending Florida Tech because of their outstanding students and smart, caring, & dedicated professors. They estimate they will need to save $180,000 over the next 15 years. a. How much will they need to invest at the end of each month for the next 15 years to achieve their $175,000 70 savings goal if they can earn 4.47% per year on their investment? b. What other actions can they take to save money for Emery's college expenses? 4. Lauren Nicole graduated from Florida State University in 2014. She has an interesting and high paying job with Coach Purse Company. However, Lauren did not pay attention in her Personal Financial Planning class and is very concerned about paying her 2019 Federal income taxes. She is single with no children and has a total income of $54,470 and a taxable income of $49,837 (which includes a short-term capital gain of $1,400). She has the following monthly expenses: car loan - $270; cell phone - $125; food - $283, entertainment - $180; and credit card - $92. a. Calculate Lauren's 2019 average tax rate. b. Calculate Lauren's 2019 marginal tax rate c. As Lauren's financial advisor, explain the difference between tax avoidance and tax evasion