Save OT Cash Flows Score: 0 of 1 pt 4 of 5 (1 complete) HW Score: 20%, 1 of 5 pts P 4-20 (similar to) Question Help Assume that your parents wanted to have $150,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and eamed 8.0% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $190,000 saved just in case, how much would they have to save each year to reach their new goal? a. How much would they have to save each year to reach their goal? To reach the goal of $150,000, the amount they have to save each year is $. (Round to the nearest cent.) Enter your answer in the answer box and then click Check Answer Check Answer Clear All 1 part remaining mics plus... 7th Edition Accounting 10th Edition Desired sum = $190,000 Annual Interest Rate = 12.5% Period of Investment = 18 years am w