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You have been accepted into college. The college guarantees that your tuition will not increase for the four years you attend college. The first $11,400 tuition payment is due in six months. After that, the same payment is due every six months until you have made a total of eight payments. The college offers a bank account that allows you to withdraw money every six months and has a fored APR of 4.1% (with semiannual compounding) guaranteed to remain the same over the next four years. How much money must you deposit today if you intend to make no further deposits and would like to make all the tuition payments from this account, leaving the account empty when the last payment is made? (Note: Be careful not to round any intemediate steps less than six decimal places.) You have found three investment choices for a one-year deposit: 10.8% APR compounded monthly, 10.8% APR compounded annually. and 10.1% APR compounded daily. Compute the EAR for each investment choice. (Assume that there are 365 days in the year.) (Note: Be caroful not to round any intermediate steps less than six decimal places.) The EAR for the first investment choice is \%. (Round to three decimal places.) The EAR for the second investment choice is \%. (Round to three decimal places.) The EAR for the third investment choice is \%. (Round to three decimal places.)

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