13. Let's say you won $5,000 in the Michigan Lotto today. Ten (10) years from now, you want to have a total of $15,000 in your account. To achieve this objective, you decide to deposit part of your $5,000 Lotto winnings in your investment account today, and spend the rest on yourself tonight (to celebratel). Assume you can earn 12 %, compounded semi-annually, on your lump-sum deposit over the 10-year time period. How much of your $5,000 can you spend on yourself tonight and still achieve your 10-year objective of having S15,000 (Hint: first calculate how much of your $5,000 you must deposit, then determine how much is left to spend) A. $ 1,081.50 B. $ 322.93 C. $. 274.31 D. $ 170.40 14. It's October 11, 2010. You want to have saved S20,000 by October 11, 2013 (in 3 years). As of 10/11/10, you have S1,000 in your investment account. To help you out, your dad gave you an additional $2,500 today (10/11/10) and you immediately deposited it in your investment account. You get yourself a part-time job in order to make equal monthly d deposited earns 9 % annually, what must each of your monthly deposits be to achieve your 3-year objective of having $20,000 by 10/11/13? (Hint: first calculate the value of your initial investment in 3 years, then use it to calculate the value of what your monthly deposits will have to equal over 3 years, then you'll be able to calculate your monthly (ordinary annuity) deposits) s into your account at the end of each month. If all the money you 3 A. $400.95 B. $ 375.85 C. $ 180.06 D. $ 152.22 15. Let's say it's your 25th birthday today and want to start planning for your retirement on your 55th birthday. If you deposit $200 in your investment account at the end of every month for the 30 years until your retirement, how much money will you have accumulated if you assume you can make an average of 11 % per year? A. $ 565,816.83 B. $ 361,999.03 C. S 289,599.22 D. S 209,777.11 16. (Extra Credit Problem = 4 points) You start your Roth IRA and deposit $3000 at the end ofevery year in it. You want S 1,000,000 in your Roth IRA in 40 years. As such, you must make investments that give you an average annual return of