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5 . ) The Fiore s wish to create a sinking fund to save for their children s education. a . ) They estimate that

5.) The Fiores wish to create a sinking fund to save for their childrens education.
a.) They estimate that they will need to save about $150,000 in 18 years. If the
account returns 7.5%, how much are the monthly installments?
b.) How much will The Fiores deposit in the account?c.) Once in college, what are the monthly installments of the $150,000 pay out in
4 years?
d.) What is the total amount the twins will receive from the $150,000 pay out
during the 4 years theyre in college.

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