Your younger sister, Linda, will start college in five years. She has just informed your parents that she wants to go to Hampton University, which will cost $$46,000$ per year for four years $($cost assumed to come at the end of each year$).$ Anticipating Linda$$s ambitions, your parents started investing $$6,600$ per year five years ago and will continue to do so for five more years. Use $12$ percent as the appropriate interest rate throughout this problem $($for discounting or compounding$).$

How much will your parents have to save each year $($A$?)$ for the next five years in addition to the $$6,600$ they are currently saving to have the necessary funds for Linda's education? Use Appendix C and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.