Willie deposits a fixed monthly amount into an annuity account for his child’s college fund. He wishes to accumulate a future value of $125,000 in 15 years. Assuming an APR of 3.5% how much money...

Willie deposits a fixed monthly amount into an annuity account for his child’s college fund. He wishes to accumulate a future value of $125,000 in 15 years.

1. 
   
   
   
   1. Assuming an APR of 3.5% how much money should Willie deposit monthly in order to reach his goal.
   
   
   2. How much of the $125,000 will Willie ultimately deposit in the account, and how much is interest earned?