2. Richard has determined that he will need to have saved $60,000, in 10 years, for his daughter's
university education. He plans to make equal bi-weekly payments into a savings account for the first
4 years then leave this sum in the savings account to accumulate interest over the next 6 years.
Assume nis savings account can earn 3.9% interest compounded biweekly. How much must his bi-
weekly payments be? (8 points)​