4. Answer the following questions. (a) You wish to invest $10,000 for a certain amount of time and you want to see what rate of interest, i(2), that you need to earn in order to achieve a future goal. Set up a table and calculate the rate i(2) that you would need to earn if you invested the $10,000 for 3, 5 and 7 years. Calculate the rate assuming the accumulated amount at the end of each of these periods is $10,500, $11,000, $11,500, $12,000, ..., $21,000. (You should end up with 22 x 3 = 66 calculations) (3 marks) (b) You also wish to see how long will it take an investment of $10,000 to grow to a certain amount at a certain rate of interest, (4). To do this, set up a table and calculate the time (in years) it would take for $10,000 to accumulate to $12,000, $12,500, $13,000, ..., $24,000. Use the following 5 rates of interest, compounded quarterly: 4%, 5%, 6%, 7% and 8%. (You will end up with 25 x 5 = 125 calculations) Then do TWO extra rows at the end of your table (leave one empty row between end of your table and these two calculations): (i) (ii) Calculate the time (in years) it would take to double your investment (to $20,000) using the "Rule of 70" (make it clear on your spreadsheet that this is the Rule of 70) Then compare your results to the values you calculated for the $20,000 in your table by taking those values and subtracting them from the value you calculated using the "Rule of 70".