3. Presently college education is increasing at the rate of 7% per year. If currently college cost is running at $21,500 a year, what will the Marcottes need to have saved up for Paloma in 8 years and for Joel in 15 years. Furthermore you can assume that the Marcottes can earn 2% on their investments. They hope to provide 20% of their children's college funding. You can use the financial calculator at https://bigfuture.collegeboard.org/pay-for-college/college- costs/college-costs-calculator to find the answer. Assume that presently the Marcottes can only save $200 a month towards each kid's educational funding. What are some saving programs and tools that the Marcottes might consider for this goal