A) Feng and Victoria are dreaming about taking a trip around the world when they sell their art collection and gallery in the future. They decided to put aside $4,000 each year in a low risk investment that earns 4% interest. In 5 years they will receive a one-time gift of $20,000 which can also be invested until they travel. i) How much money will they have accumulated 40 years from now when they plan on their once in a life time trip? (3 marks) ii) If their goal is to travel and have some savings left they want to have a $1,2000,000 of savings, how much extra do they need to save every year? (3 marks) i) Use the Rule of 72 to figure out how long it will take for your money to quadruple (4 times) in value if the interest rate for investments is 8% per year. (2 marks) ii) What is the difference between effective annual interest rate (EAR) an annual percentage rate (APR)? (2 marks) 2 B)