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Annuities- Your are saving for the college education of your two children. They are two years apart in age: one will begin college 15 years from today and the other will begin 17 years from today. You estimate you r children’s college expenses to be $35,000 per year per child, payable at the begging of each school year. The annual interest rate is 8.5 percent. How much money must you deposit in an account each year to fund your children’s education? Year deposits begin one year from today. You will make your last deposit when your oldest child enters college. Assume four year of college.

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