Suppose that a young couple has just had their first baby, a daughter, and they wish to ensure that enough money will be available to pay for her college education. Currently, college tuition, books, fees, and other costs, average $12,500 per year. On average, tuition and other costs have historically increased at a rate of 4% per year. Assume that college costs continue to increase an average of 4% per year and that all her college savings are invested in an account paying 7% interest.

Draw a timeline that details the amount of money she will need to have in the future for each of her four years of her undergraduate education.