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A rich aunt has promised you $3,860.00, one year from today. In addition, each year after that, she has promised a payment (on the

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A rich aunt has promised you $3,860.00, one year from today. In addition, each year after that, she has promised a payment (on the anniversary of the last payment) that is 3.00% larger than the last payment. She will continue to show this generosity for 25 years, giving a total of 25 payments. If the interest rate is 10.00 %, what is her promise worth today? Submit Answer format: Currency: Round to: 2 decimal places. Show Hint A new father plans on saving for his daughter's college education. He will donate $875.00 on her first birthday. After that, he will increase his donation by 3.00% each year and will make his last contribution on her 18th birthday. If he can earn 9.00% each year in his investment account, how much will his daughter's college fund be worth on her 18th birthday? Submit Answer format: Currency: Round to: 2 decimal places.

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