6. (15 points) Suppose your parents want to ensure that enough money will be available to pay for your college education. They decided to make deposits into an educational savings account on each of your birthdays, starting with your first birthday. Assume that the education savings account will return a constant 9%. Your parents deposit $2400 on your first birthday and plan to increase the size of their deposits by 7% each year. Assuming that your parents have already made the deposit for your 18th birthday, then what is the amount available for your college expenses on your 18th birthday? (Hint: To calculate the FV of a growing annuity, you take two steps. 1^st step is to compute the PV of the growing annuity by using the formula, and the 2^nd step is to apply the compounding rule to find the FV.)