M Chapter 06 Pre Built Probi /hm.t .tpx John Rider wants to accumulate $110,000 to be used for his daughters college education. He would lke to have the amount available on December 31, 2021. Assume that the funds will accumulate in a certificate of deposit paying 8% interest compounded annually EyotS1. Pyots. nAofS1. AAOSI, E AD of S1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Answer each of the following independent questions. Required 1. If John were to deposit a single amount, how much would he have to invest on December 31, 20167 74,864 2. If John were to make five equal deposits on each December 31, beginning on December 31, 2017, what is the required amount of each deposit? 24,411 y amount