-/6 points UTPBFIN1 IV.E.024. My Notes Suppose that a young couple has just had their first baby and they wish to ensure that enough money will be available to pay for their child's college education. They decide to make deposits into an educational savings account on each of their daughter's birthdays, starting with her first birthday until her 18th birthday. The parents deposit $4,000 on their daughter's first birthday and plan to increase the size of their deposits by 5% each year. Assume that the educational savings account will return a constant 8%. How much will the parents deposit (in $) on the second birthday? How much will the parents deposit in $) on the 18th birthday? (Round your answer to the nearest cent.) What is the total balance available for their daughter's college expenses (in %) on her 18th birthday right after they make their 18th and final deposit? (Round your answer to the nearest cent.)