9. EASY STREET? You are now 35 years old and will retire at the age of 65. While you currently have no savings, you are going to start a personal investment plan now and learn that you can expect the following average annual returns in various investments: Investment After-inflation return Emerging stock market stocks 11.5% Small-company U.S. stocks 9.0% European and Asian stocks 8.2% S&P 500 Index (large U.S. stocks) 7.2% Art 4.0% Residential real estate 2.8% U.S. Corporate bonds 0.9% Long-term U.S. government bonds 0.4% Silver -0.3% (a) If you invest $10,000 each year for the next 30 years in small-company stocks how much would you retire with (before taxes)? (b) Suppose you wanted to retire with enough to buy a 1.000 acre spread in the Hill Country with horses, a ranch house and a very large Winnebago ($6 million). If you were willing to put off retirement until 75 and set aside $10,000 each year, what investment categories could you have to be in to achieve this objective? (c) Suppose you were risk-averse and would only invest in long-term government bonds. How many years would you have to save at $10,000 a year to get that ranch