a) Suppose you are committed to owning a $190,000 yacht. If you believe your mutual fund can achieve a 12% annual rate of return and you want to buy the yacht in nine years on the day you turn 30, how much must you invest today? I b) You've just joined the investment banking firm of Dewey, Cheatum, and Howe They've offered you two different salary arrangements. You can have $75,000 per year for the next two years, or you can have $64,000 per year for the next two years, along with a $20,000 signing bonus today. The bonus is paid immediately, and the salary is paid at the end of each month. If the interest rate is 10% compounded monthly, what is the PV for both the options? Which option do you prefer? c) You are looking at an investment that has an effective annual rate of 14% What is the effective semiannual return? b. What is the effective quarterly return? What is the effective monthly return?