The Jenkins are trying to save $80,000 for a down payment on their house in 6 years. Their savings earn a 8% return. A) What is the present value of $80,000 in 6 years (using annual compounding) ? B) If the Jenkins decided to make growing annual contributions to their savings increased by 2% each year, what is a FIRST contribution They need to make to reach $80,000 by the end of year 6? (You must use the growing annuity formula) C) when buying a home the Jenkins budget will be $420,000, and after a down payment of $80,000 they would need to borrow $340,000. If they accept a 30 year loan with 7.08% annual interest and a monthly payment, what would their monthly payment be?