7. You want to have $1,000,000 savings when you retire at the age of 65. You planned to make a one-time deposit into your retirement account and let it grow until you retire. Assuming that your retirement account earns 5% interest per year, how much you have to deposit if: a. If you are 20 years old. b. If you are 25 years old. c. If you are 30 years old. 8. You have $10,000 and you decide to invest $2,500 in each of the following investments. a. Bank CD at 4%. b. Bond fund at 8%. Page 1 of 2 c. Mutual stock fund at 12%. d. New venture stock at 24%. In total how much money you will have after 5 years