Suppose that a young couple has just had their first baby and they wish to ensure that enough money will be available to pay for their child's college education. Currently, college tuition, books, fees, and other costs an average of $25,000 per year. On average, tuition and other costs have historically increased at a rate of 5% per year. Assuming that college costs continue to increase an average of 5% per year and that all her college savings are invested in an account paying an interest rate of 9%, then the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education is closest to. (Assume college fees are paid at the start of every year): O $240,661.92 $227,735.60 $208,931.74 $229,201.83 Your bank account pays an interest of 6% on all deposits. You deposit $1,000 in this account today. One year from now, you deposit $2,000 in the same bank account. One year after that (i.e., in 2 years from now), you invest $3,000 in this bank account. Finally, one year after that (i.e., in 3 years from now) you invest $4,000 in this bank account. How much money will be in your account one year after all your deposits have been made. That is, the amount of money money in your account in 4 years from now will be: $11.255 $13,506 $18,008 $5.628