B (12 Total). Marshall Junior was born on August 1 of this year. Current college costs are about $20,000 per year and rising at about 5% annually. 1. How much will college cost Marshall Jr's Freshman Year, which will be paid for in 18 years (ie. What will ONLY the freshman year cost). Hint what are the FUTURE costs of college? 2. How much will the total costs be for Marshall Jr's 4 years of college (be sure to remember that costs will continue to rise at 5% after freshman year)? Suggested to compute the cost of each year and add the 4-years to get the total. 3. How much does Marshall Sr. need to have accumulated by the start of Marshall Jr's college (in 18 years) so that the total amount accumulated will be enough to cover Marshall Jr's total College costs (#2 above) assuming that Marshall Sr will earn 10% on the college-fund? Suggested to take a PV of each of the 4-years computed above; term for Fresh will be 0, Soph will be 1 etc. 4. How much does Marshall Sr. need to save each year, over the next 18 years, so that when Marshall Jr. begins his Freshman year, Marshall Sr. will not need to save any additional amounts (ie. Total accumulated is equal to answer #3 above after 18 years?)