QUESTION 1 Samuel's Dad is looking to deposit a sum of money immediately into an account that pays an annual interest rate of 8.00% so that his first-year college tuition costs are provided for. Currently, the average college tuition cost is $13,000 and is expected to increase by 2.00% per year (the average inflation rate). Samuel just turned 6 and is expected to start college when he turns 18. How much money will Samuel's Dad have to deposit into the account? $7,922 $6,547 $8,714 $5,952 $7,202 10 points Save