The Turners have 8 years to save a lump-sum amount for their child's college education. Today...

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The Turners have 8 years to save a lump-sum amount for their child's college education. Today a four- year college education costs $60,000, and this is expected to increase by 9% per year into the foreseeable future. a. If the Turners can earn 6% per year on a conservative investment in a highly rated tax-free municipal bond, how much money must they save each year for the next 8 years to afford to send their child to college? b. If a certain college will "freeze" the cost of education in 8 years for a lump-sum of $170,000, is this a good deal? Question content area bottom Part 1 a. The Turners must save enter your response here each year for the next 8 years. (Round to two decimal places.) The Turners have 8 years to save a lump-sum amount for their child's college education. Today a four- year college education costs $60,000, and this is expected to increase by 9% per year into the foreseeable future. a. If the Turners can earn 6% per year on a conservative investment in a highly rated tax-free municipal bond, how much money must they save each year for the next 8 years to afford to send their child to college? b. If a certain college will "freeze" the cost of education in 8 years for a lump-sum of $170,000, is this a good deal? Question content area bottom Part 1 a. The Turners must save enter your response here each year for the next 8 years. (Round to two decimal places.)