A young couple wants to have a college fund that will pay $25.000 at the end of each half-year for 8 years (a) Ir they can investat , compounded semiannually, how much do they need to invest at the end of each 6-month period for the next 18 years to begin making their coller withdrawals 6 months after their last investment? (Round your answer to the nearest cent.) $6250 (b) Suppose 8 years after beginning the annuity payments, they receive an inheritance of $33,000 that they contribute to the account, and they continue to make their regular payments as found in part (a). How many college withdrawals will they be able to make before the account balance is $07 (Round your answer to the nearest whole number) withdrawals Need Help? Fendt Tik to a Tutor Submit Answer Practice Another Version 12 01 POINTS | PREVIOUS ANSWERS HARMATHAP12 6.4.047. MY NOTES The terms of a single parent's will indicate that a child will receive an ordinary annuity of $11,000 per year from age 18 to age 24 (so that the child can attend college) and that the Balance of the estate goes to a niece. If the parent dies on the child's 13th birthday, how much money must be removed from the estate to purchase the annuity? (Assume an interest rate of 99, compounded annually. Round your answer to the nearest cent.) $ 5977291 X Need Help? Read Watch It Talk to a Tutor