1. College education is increasing at a rate of 10% per year. If college cost is running at $22,000 a year today, what will the Marcottes need to have saved up for Paloma in 7 years and for Joel in fifteen years?You can assume that the Marcottes earn 6% on their investments. You can use the financial calculator at Practical Money Skillsto find the answer. Look through the calculators to find the one that will provide you with the correct answers. Assume that the Marcottes can only save $100 a month towards each child's educational funding.