3) You desire to save $800,000 over the next 18 years for your childs college education. If the interest rate is 3.25% compounded annually, how much of a single lump sum must you put in the account today to achieve your goal of $800,000 in Year 18?

4) If in Problem 3) you decide to save an equal amount for 18 years at 3.25% compounded annually, how much must you save each year to achieve your goal of $800,000 in 18 years?