1.7 Amortisation and Annuities

Saving up for a College Fund

After high school, when you go to university you will need a certain amount of money every week/month to live and study on. Your parents thought about this and want to set you up with a college fund. They will put some money aside for you in a bank account every week/month until you finish high school. How much should they set aside every period? What will the amount be when you start university? When will the money run out?