A couple decides on the following savings plan for their child’s college education. When the child is 6 months old, and every 6 months thereafter, they will deposit $300 into a savings account earning 9% semi-annually. After their child’s tenth birthday, having made 20 such payments, they will stop making deposits and let the accumulated money earn interest, at the same rate, for 8 more years, until their
child is 18 years old and ready for college. How much will be in the account when the child is ready for college?