Your younger sibling tells your parents that she will attend college in 4 years to get a degree. Your parents have been saving $5,000/year for the last 10 years at 5%. Tuition costs $25,000/year. Deciding they need to save more, your parents increase their saving to $10,000/year. The interest rate goes up to 6%.

a) Will your sister have the funds to go to college?

b) Your parents will gift you $10,000/year for 5 years in order for you to pursue your PhD.

c) Your parents plan to spend $10,000/year traveling. How many trips can they make?