Some friends of yours have just had a child. Thinking ahead, and realizing the power of compound interest, they are considering Investing for their child's college education, which will begin in 18 years. Assume that the cost of a college education today is \$150,000. Also assume there is no inflation and no tax on interest income used to pay college tuition and expenses. Instructions: Enter your responses rounded to the nearest dollar. Do not round intermediate caiculations. a. If the interest rate is 5 percent, how much money will your friends need to put into their savings account today to have $150,000 in 18 years? They would need to put $ into their savings account today b. What if the interest rate were 10 percent? They would need to put $ into their savings account today c. The chance that the price of a college education wil be the some 18 years from now as it is today seems remote. Assuming that the price wil rise 4 percent per year, ond that today's interest rate is 6 percent, what will your friends' investment need to be? The amount or the investment would be $ d. Return to the case with a 5 percent interest rate ana no intotion (part o) Assume that your friends don't hove enough financial resources to moke the entire investment at the beginning. Insteod, they think they will be oble to split their investment into two equal. paits. one invested immedintely ond the second invested in 5 years. What is the amount of each part? The required size of the two investments would des