You are saving for the college education of your two children. They are two years apart in age; one will begin college in 6 years, and another in 8 years. You estimate your first childs college expenses to be $25,000 per year, paid at the beginning of each college year (first payment is at year 6 and so on). You estimate your second childs college expenses to be $30,000 per year, paid at the beginning of each college year (first payment at year 8 and so on). The annual interest rate is 6 percent. How much money must you deposit in an account each year to fund your childrens education? You will begin payments one year from today. You will make your last deposit when your oldest child enters college. Also assume that each child will take 4 years to graduate from college.

		$25,714.29
		$23,472.18
		$24,880.51
		$28,672.53
		None of the above

Maria is a single successful executive with the following tax scenario for 2018: Her salary was $77,000; she received $500 in interest from her various taxable bond investments; she received $2,000 in the form of dividend income from her various corporate stock investments, her short-term capital gain was $1,200 and her long-term capital gain was $9,000 (mainly from the sale of her United Airlines stock that she held for a decade). She also paid $400 on interest charges on her credit card (this was mainly because she did not realize that she had a pending charge on a credit card that she overlooked.) Her other total exemptions and itemized deductions is 12,000; these amounts will be deducted from her gross income to determine her taxable income. If she is files as a single individual, what is Maria's tax liability for the year, i.e. how much in taxes she will pay for the year? Use the individual tax rate provided below. Single Individuals

If Your TaxableIncome Is	You Pay This Amount on theBase of the Bracket	Plus This Percentage on the Excess over the Base	Average Tax Rate atTop of Bracket
Up to $9,225	$0	10.0%	10.0%
$9,225-$37,450	$922.50	15.0	13.8
$37,450-$90,750	$5,156.25	25.0	20.4
$90,750-$189,750	$18,481.25	28.0	24.3
$189,750-$411,500	$46,075.25	33.0	29.0
$411,500-$413,200	$119,401.25	35.0	29.0
Over $413,200	$119,996.25	39.6	39.6

		$14,318.75
		$15,218.75
		$14,193.75
		$15,093.75
		None of the above