1. One of your financial objectives is to accumulate $20,000 by October 1, 2023 (5 years from now). You have $10,000 as of today that is available to invest. Scenario 1: Invest a lump-sum (one time) amount as of today.

a. You can invest $10,000 today in an investment that is expected to provide a 12% annual rate of return. Will you achieve your objective of having $20,000 five years from today (Oct. 2023)?

b. If you can invest $10,000 today, what annual rate of return must you obtain on your investment to achieve your objective of having $20,000 five years from today (Oct. 2023)?

c. If you can invest $10,000 today and expect to earn an annual rate of return of 12%, how long will it take to achieve your objective of having $20,000 in the future?

d. If your objective is to have $20,000 in five years (Oct. 2023), how much must you invest today if your annual rate of return is 12%?