* THEY CAN GO TO COLLEGE AT 18 YRS OLD.

4. An engineering couple is planning to finance the projected college expenses of their two children. The children are currently aged 1 and 4, respectively. They estimate total college expenses foreach child to be $60000 per year and they assume college wil be four years for each child. At the birth of each child the Grandparents invested $5000 in a fund growing at 8% per year with a ten year life. The parents plan to make quarterly deposits to a fund growing at 6% per year-quarterly, beginning now and continuing through the children's education. What deposit will be required? After two years of college the youngest child receives a full scholarship for the remaining years. Can the couple stop depositing? And can they go to Venice and freely spend $10000