Suppose that a young couple has just had their first baby and they wish to insure that enough

money will be available to pay for their child's college education. They decide to make

deposits into an educational savings account on each of their daughter's birthdays, starting

with her first birthday. Assume that the educational savings account will return a constant

7%. The parents deposit $2000 on their daughter's first birthday and plan to increase the size

of their deposits by 5% each year. Draw a timeline that details the amount that would be

available for the daughter's college expenses on her 18th birthday, and identify the amount

she would have for college.