Problem
Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology
A couple is saving for their newborn daughter's college education. She will need $25,000 per year for a four-year college program, which she will start when she is 17. What uniform deposits starting 3 years from now and continuing through year 16 are needed, if the account earns 6% interest?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.