Assume you have a child who is currently 10 years old. You realize that you must begin saving for her college education, and sit down to work out a plan of action. You plan to make annual payments, starting at the end of the current year, into an account that earns 5% interest per year. When your child begins college, you will put the money into an account that earns 3% interest per year. Your child will begin college in 8 years. Assume that each year of college will cost $20,000, and (for simplicity) assume this amount must be paid at the beginning of the school year. You are planning to pay for five years of college for your child. How much money will you need to save each year from now until your child starts college? (Hint: it might be helpful to diagram this problem with a timeline before solving it).