Problem TV5 -3 Little Joe is only one year old, but his uncle is already planning a college program for him at the uncle's Alma Mater, where Joe will, of course, attend. The annual tuition at Matchbook State is now $14,000 , but is expected to increase at a compound rate of 6% per year for the next 25 years. If all goes according to schedule, Joe will enter college 17 years from today, so annual tuition payments will be starting on that date and continuing for each of the three years thereafter. Joe's uncle plans to begin a savings program by depositing an amount into a savings account today, which contribution will grow annually by 3%, and deposited annually at the end of each of the next 16 years (ending on the date Joe enters college). If the savings account earns interest at a compound annual rate of 8%, over the entire period, what amount must be deposited today, that will grow annually by 3% for Joe's uncle to meet the expected tuition costs? Problem TV5 -3 Little Joe is only one year old, but his uncle is already planning a college program for him at the uncle's Alma Mater, where Joe will, of course, attend. The annual tuition at Matchbook State is now $14,000 , but is expected to increase at a compound rate of 6% per year for the next 25 years. If all goes according to schedule, Joe will enter college 17 years from today, so annual tuition payments will be starting on that date and continuing for each of the three years thereafter. Joe's uncle plans to begin a savings program by depositing an amount into a savings account today, which contribution will grow annually by 3%, and deposited annually at the end of each of the next 16 years (ending on the date Joe enters college). If the savings account earns interest at a compound annual rate of 8%, over the entire period, what amount must be deposited today, that will grow annually by 3% for Joe's uncle to meet the expected tuition costs