7.If an investor wishes to receive a return of 20,000 per year for the next 12 years how much would they need to invest now? Assume that the rate of return on the investment will be 5% compounded annually. a) 177,265 b) 222,735 c)248,863 d)252,000 e) None of the above 8. Calculate the income tax liability for an individual with a non-savings income of 39,000 (gross). The basic Income Tax rate is 20% and personal allowance is 12,500. (Assume no other income/gain but NIC is 700). a) 1200 b) 2,200 c) 5,160 d) 5,600 e) 5,800