2 4. A ski chalet in Aspen costs $500,000 today. Inflation is expected to cause this price to increase at 8 percent per year over the next 10 years. Barbara and Phil plan to retire in 10 years, and they want to buy the chalet the day they retire They will save the money they need by making ten equal end-of year deposits into an investment account that pays 12 percent per year. What is the amount of each deposit? You would like your grandson to have $1,000,000 to use for his retirement. You open a retirement account for your grandson on your grandson's 2od birthday and immediately deposit $30,000. If the interest rate eaned on the retirement account is 6 percent compounded monthly, how old will your grandson be when his account reaches $1,000,000? S. 6. Today is your 40% birthday and you must choose between two retirement options The first option will provide you with 10 equal annual payments of S120,000 eginning on your 65t birthday The second option will provide you with one e interest rate is 6 percent per year and you are certain to live to at least age 80, which option is better? Clearly @lhRu@@Ell w