1. At State College, the cost of tuition is $6168, housing is $3280, the meal plan is $2190, and books cost $1200. How much would you need to pay to attend State College for 4 years given your family will contribute $17,600?
2. For the past 7 years, George and Sue have deposited $10,000 in a retirement account with a simple interest rate of 4%. They plan to continue to make annual deposits for the next 15 years. Explain how their money will grow over time. Note: You do not need to extend their entire savings for 22 years in your explanation. Focus on the earning for the first several years and explain how their money will grow.
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