You plan to be a doting grandparent for your three adorable yet unborn tots (you love to plan ahead). You plan on setting up a trust fund to pay for their undergraduate educations. The fund will be set up to pay each little one $260,000 for the first year of school, then increase at 4% per year through graduation. Assume the grandkids graduate after 4 years. The oldest tot begins school in 35 years; the second one starts three years later and the last little one starts two years after the second. You have set aside $100,000 thus far. You earn 6% on your investments. Next years salary is expected to be $180,000. What fraction of your salary must you set aside if you get raises of 2% per year to make your vision a reality? You start your savings based on income one year from now and you make your last payment on the first grandchilds first day at college.