1. At the time of your birth, your aunt deposited $16,000 for you into an account earning 8% annually. a. How much money will you have on your 25 th birthday? b. How much money will you have when you turn 45 ? c. How much money will you have by the time you retire at age 60 ? 2. You want your newborn to have $80,000 at age 18 . How much would have to be deposited, assuming a 6% interest rate compounded annually