(Solved): Hardy Family The Hardys have saved \( \$ 5,000 \) towards their goal to have \( \$ 40,000 \) for a ...

Hardy Family The Hardys have saved \( \$ 5,000 \) towards their goal to have \( \$ 40,000 \) for a duwn paytient an a house in 5 years. shauld bee, so they've ariked you to calculate it They harve found a saareirgg institution that mil \( \rho 2 y \) B\% interest. Colby Family The Colbyá have set a goal to have \( \$ 40,000 \) for a dswn parpmert en a hsuse in 5 years. They harev not sareed anything so far. They hare asked you to calculate hüw much they mil need to put away each year to achieve their \( \$ 40,060 \) dúnfr \( \rho \) armere geal. They harve found a saareirgg institution that nil \( \rho 2 y \) B\% interest. Use the scenarios along with the following factur cable data to arower each of the gueations. Note that the compléte Future Value and Fulure Value Annuity tables fas well as the Present Value and Present Walue Arnucy tablesi are lseated in the appendix h your text. Table of Future Value Annuity Factera: What is the ameunt of money the Hardys will need to depesit annualy (rounded to the nearest two decinal places) to achiave their duwn parymert quà? What is the ameunt of money the Colbys will need to depásit arnualy frounded to the rearist two dedmal places) to achive their dowi-payment qù???