Michael is planning for his son's college education to begin ten years from today. He estimates the yearly tuition, books, and living expenses to be $10,000 (to be paid at the beginning of each of the four years) per year for a four-year degree. How much must Michael deposit today for his son to be able to withdraw $10,000 per year for four years of college? Assuming interest rate for the whole period is 12%. A) $12, 880 B) $9, 780 C) $40,000 D) $18, 950 E) $10, 953 * Charlene owns stock in a company which has consistently paid a growing dividend over the last five years. The first year Charlene owned the stock, she received $1.71 per share and in the fifth year, she received $2.89 per share. What is the growth rate of the dividend over the last five years? A) 5% B) 7% C) 12% D) 14% * E) 15%