You want to set up a college savings plan for your daughter. She is currently 2 years old and will go to college at age 18. You assume that when she starts college (at the beginning of her 18 year), she will need at least $30,000 at the beginning of her freshman year, $35,000 at the beginning of her sophomore year, $40,000 at the beginning of her junior year, and $45,000 at the beginning of her senior year. How much do you need to save each year in order to have the necessary funds if the current rate of interest is 10% compounded annually? Below is the cash flow diagram for this situation. Note: The scale of the cash flow diagram below is already mapped to the age of the daughter. $45,000 $40,000 $35,000 $30,000 0 1 2 3 14 15 16 17 18 A A A A=