Rachel and Rosss brief one night encounter produced a lovely daughter Emma, who was born on October 31st. Both parents are excited and they are eager to make sure Emma doesnt get saddled with college bills. Rachel suggests, as a birthday present, that they each deposit $3,000 a year for 6 years, starting with Emmas first birthday. Ross is still thinking about his car payment so he suggested waiting until Emma is six and then every year until Emma turns 18, both he and Rachel would contribute $3,000 each (11 payments). Assume that Emma can earn 7% on her account. Is Rosss plan better than Rachels or is Rachels plan better, By how much is one plan better?