1. Linda is 10 years old. Her parents want to save for 4 years of college, starting at 18. Her parents want to deposit X today and on birthdays 11,12, . 17. On birthdays 18, 19, 20, 21 they plan to take out $20,000 the total cost of education. How much do her parents need to save each year? Assume the discount rate is 10%. Solve the following ways: a. Using trial and error, is the $4,000/per year enough?

b. Using Goal Seek, solve for the annual deposit necessary to meet their financial goals.