Assume that yoor parents wanted to have $110,000 saved for college by your 18 th bithday and they started smeng on your frst bithday They saved the sarne amsunt esch year an your bithday and eamed 10.5% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take foe years instead of four to gaduate and decide to hive $150,000 savod just in case, how much woild they hive fo save cach year to nach their new goal? a. How much would they have to saw each year to reach their goal? To reach the goal of $110.000, the amount they have to save each year is 5 (Round to the nearest cant)