Question 13 Not yet answered Marked out of 2.00 A couple has just had their first baby, a son, and they wish to ensure that enough money will be available to pay for his college education. Currently, college tuition and other costs, average $12831 per year. On average, tuition and other costs have historically increased at a rate of 4% per year, and they are expected to keep increasing an average of 4% per year in the future. His savings are invested in an account paying 7% interest. The amount of money he will need to have available at age 18 to pay for all four years of his undergraduate education is closest to (note: The tuition payments are payable at the beginning of each year of college): P Flag question Select one: O a. $99681 O b. $51324 O c. $93160 O d. $103669