Presently college education is increasing at the rate of 8% per year. If current
college costs are running at $28,000 a year, what will the Marcottes need to have
saved up for Paloma in 7 years? Assume that the Marcottes are in the 25% tax
bracket and 6.5% for the State taxes. Furthermore, you can assume that the
Marcottes can earn 3% on their investments.