Question 1 Baron and Caron have a newborn baby, Darren. They decided to put aside RM15,000 and invest it in trust for Darren to pay for his tertiary education when he turns 21 years old. Baron and Caron are considering making additional annual payments to the trust account, in order to increase the deposit amount to 40% of the expected cost of education. Assume that the current cost of the tertiary education is RM220,000 and that the fees will grow at 3% p.a. and that the trust account receives interest at 6.5% p.a. Required: (a) What is the projected amount that will be available to Darren when he turns 21 from the RM15,000 invested in the trust? (2 marks) (b) How much must Baron and Caron contribute each year to achieve the desired deposit amount of 40% of the expected cost of tertiary education for Darren