Lab Exercises D Your grandfather gave you $50,000. You want to set aside some of that money so you can withdraw $900/month for living expenses for the 4 years you attend university and still have $7,000 left at the end of the 4 years to pay for a trip after graduation. Your first withdrawal will be in one year when you start university. Assume you earn j12 4% the entire time. (a) How much of the $50,000 must you set aside? (b) How much interest will you earn?

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