You are saving for the college education of your two children. They are two years apart in age; one will begin college 18 years from today, and another child will begin 20 years from today. You estimate the college expenses to be $40000 per year per child. Given r = 8% p.a. EAR (effective annual rate) to be used as hurdle rate for calculations. College expenses are paid at the beginning of each school year. How much money must you deposit in an account each year to fund your children's education? Your deposits begin one year from today. You will make the last deposit at the end of the 16 year. Assume five years of college. [5]