Terry just inherited $39,048.25 and he would like to spend his money on a new BMX bike. His parents on the other hand would like to use the money for college which Terry will start in 10 years. His parents expect college to cost $17,500.00, per year for 4 years (tuition is due at the end of the year). The interest rate on the saving is 5.00%. 1) How much money will Terry need for college when he starts in 10 years? 2) How much money will need to be set aside today for Terry's College? 3) How much of the remaining amount can be spent on Terry's BMX bike? 4) Draw a timeline for this problem. Which timeline matches your timeline