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Question 2 : Your daughter is planning to go to OU in 3 years after she graduates high school. You estimate that she will need

Question 2: Your daughter is planning to go to OU in 3 years after she graduates high school. You estimate that she will need $10,000 per semester for her four years at OU. Assuming a discount rate of 4%, also assume that she with draws 10,000 for the account (which earns interest) every six months while in college. First, calculate the amount of money that you will need to have saved by the time she graduates high school. Next, assume you have 15,000 dollar saved today for her education, how much would you need to save each month to reach your goal (again assume the interest rate is 4%).

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