1. Your goal is to have $10,000 accumulated by the end of 5 years from today. You already have $2,000 to invest today, and you estimate that your investments will earn an annual return of 8.5% during this period. You plan on making one additional investment towards your goal a year from today. What should be the size of that additional investment a year from now? (Answer: $5,045.74) 2. What is the minimum amount one must invest at the end of each year over a period of 30 years to meet a $1,000,000 goal, assuming that all invested money will earn a 7% return? (Answer: $10,586.40) 3. Rework the previous problem assuming that you already have $20,000 to invest towards the goal today. (Answer: $8,974.68) 4. Suppose your goal is to have $1,000,000 accumulated by the end of 30 years from today, and that all your investments are expected to earn a return of 7.2% over the investment period. What is the minimum that you must invest at the end of each month for the next 30 years? Answer: $787.88) 5. Now, let us say that you manage to meet that $1,000,000 goal, stop your payments into your portfolio, and begin to withdraw from the portfolio at the start of each month. What is the most that you can withdraw? Assume that your investments (that have not been withdrawn) will continue earning a 7.2% return, and that you do not want to run out of money for 15 years. (Answer: $9,046.19)