How much should new parents invest now at 6% per year compounded quarterly to have $30,000.00 towards their child's college education in 17 years?

a)$10,897.10

b)$10,896.10

c)$10,904.10

d)$10,900.10

e)$10,902.10

f)None of the above.

You want to have $5000 by the time you finish college in 3 years. How much money should you deposit each quarter for the next 3 years into an account paying 8% per year compounded quarterly so that you can have $5000 when you finish college?

a)$368.80

b)$372.80

c)$370.80

d)$369.80

e)$371.80

f)None of the above.