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im hoping you can helpYou have just completed your MBA and accepted a position with a financial consulting company, Among other responsibilities, you have been

im hoping you can helpYou have just completed your MBA and accepted a position with a financial consulting
company, Among other responsibilities, you have been assigned to one of the company's
clients, Emma Golding, who needs some financial planning advice. Emma is recently widowed
and just received a tax-free life insurance payment of $100,000. Emma also has $245,000 tucked
away in a savings account. She has three main goals in mind. First, she wants to provide for her
only child's college education. The child will attend college in 4 years from today and will
require tuition payments twice per year over each of the child's four years in college. The
payments must be made at the beginning of the year and midway through each year. The first
year's semi-annual payments are each $10,000, the second year's semi-annual payments are each
$11,000, the third year's semi-annual payments are each $12,000, and the fourth year's semi-
annual payments are each $13,000. Emma's second goal is to purchase a classic 1960's vintage
automobile which will cost $92,000 and be paid for in full immediately. Her third goal is to
retire in 15 years from now and draw $6,000 each month over her planned retirement over the
following 15 years. These funds will need to be available at the beginning of each month.
Under the assumption Emma can make annual end of year deposits into an account offering a 4.5
percent rate of return after taxes before and during retirement, how much would those deposits
have to be in order to achieve her financial objectives? Clearly show your work.
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