Question 3 of 7 The Patchmans have decided to invest in a college fund for their young son. They invested $50,000 in a deferred annuity that will pay their son at the beginning of every month for 4 years, while he goes to college. If the account earns 3.50% compounded monthly and the annuity payments are deferred for 13 years, what will be the size of the monthly payments? Round to the nearest cent $0.00 Question 4 of 7 David invested $14,000 in a fund earning 6% compounded monthly. He withdraws $900 from the fund at the end of every quarter with the first withdrawal being made 3 years from now. How long will it take for the fund to be depleted? 0 years 0 months Express the answer in years and months, rounded to the next period