Terry your younger cousin, will start college in five years. She has just informed her parents that she wants to go to Western University, which will cost $49,000 per year for four years (assumed to come at the end of each year). Anticipating Terry's ambitions, your uncle started investing $6,900 per year five years ago and will continue to do so for five more years. Use 10 percent as the appropriate interest rate throughout this problem (for discounting or compounding). How much more will your uncle have to invest each year for the next five years to have the necessary funds for Terry's education? (Use a Financial calculator to arrive at the answer. Do not round intermediate calculations. Round the final answer to the nearest whole dollar.)

Terry your younger cousin, will start college in five years. She has just informed her parents that she wants to go to Western University, which will cost $49,000 per year for four years (assumed to come at the end of each year). Anticipating Terry's ambitions, your uncle started investing $6,900 per year five years ago and will continue to do so for five more years. Use 10 percent as the appropriate interest rate throughout this problem (for discounting or compounding). How much more will your uncle have to invest each year for the next five years to have the necessary funds for Terry's education? (Use a Financial calculator to arrive at the answer. Do not round intermediate calculations. Round the final answer to the nearest whole dollar.)