Question 2 Jim is going to establish a University Fund for his daughter Jan, who has just been born. He plans to make the first deposit of $20,0[l today and make another 3 annual deposits of $5,{}. After this, annual deposits of $1, will be made until Jan's 1?\" birthday. Given the long term nature of the investment, Jim anticipates a 5% pa return. The money is the transferred to an account for Jan and she will then withdraw the money in equal monthly amounts for 5 years starting on her it birthday. Jan will only be able to earn 3% pa on her money. [i] How much will be available on Jan's 1?\"' birthday, before the rst withdrawal is made? lii} Create a schedule showing the cash inows and outflows of this fund. How much will Jan be able to spend eath month? [Your answe's should be accurate to the nearest dollar]