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In order to send his first child to Law School when the time tomes, Sam wants to accumulate $40,000 at the end of 18 years.

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In order to send his first child to Law School when the time tomes, Sam wants to accumulate $40,000 at the end of 18 years. Assuming that his savings account will pay 6% compounded annually, how much would Sam have to deposit, if he wants to deposit an equal amount at the end of each year? Round your answer to the nearest dollar. Select one: O a. $1,367 O b. $1,401 O c. $1,221 O d. $1,294 How much money must Rua pay into an account at the end of each of 20 years in order to have $100,000 at the end of the 20th year? Assume that the account pays 6% per year. Round your answer to the nearest dollar. Select one: a. $2,09 b. $1,840 C. $2,718 d. $2,195

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