You are planning to save for your child's college education which will start in 18 years. You expect tuition to be $61,622 each year in years 18 to 21. If your college savings account pays 3.26% compounded annually, how much do you have to deposit today to fund your child's college education? You take out a bank loan for $12,009 today. You need to pay the loan back over the next 15 years with 15 equal payments, starting next year. If the interest rate on the loan is 4.5% APR compounded annually, how big are the payments