The Alabama Co. plans on saving money to buy some new equipment. The savings account will provide an APR of 5% for the first 3 years after which the interest rate is expected to drop to 3% per year. (a) The company will deposit of $20,000 into the above account today and an additional $45,000 three years from today. How much money will Alabama Co. have in their account five years from now? (6 marks) (b) If instead of making the 2 deposits, Alabama Co. wanted to make a single deposit today. How much money would they need to deposit in the saving account today to have the same amount in their account in 5 years as in part (a)? (4 marks)