Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $100,000 in eighteen years. If they are able to earn 5% per annum, how much must be deposited at the end of each of the next eighteen years to fund the education?
A) $3,873.
B) $8,555.
C) $8,274.
D) $3,555.

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The Answer of Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $100,000 in eighteen years. If they are able to earn 5% per annum, how much must be deposited at the end of each of the next eighteen years to fund the education?
A) $3,873.
B) $8,555.
C) $8,274.
D) $3,555.

Lucy and Fred Want to Begin Saving for Their Baby's