a) You are 35 years old today and you want retire at the age of 60. In order to live a financially solvent life after your retirement, you start saving and investing in the stock market. Every year you put $3,000 in your stock portfolio and you continue this until you turn 60. You are expecting an average return of 8% from your investment. How much money will you walk out with when you are 60 years old? (5 marks) b) What is the present value of $15,000 which you are expecting to receive 10 years from now? Required rate of return is 12%. (please use the table and show your work) (5 marks) c) You estimated that you will need $85,000 to buy BMW 5x in 7 years times. Right now you have only $35,000. If you can earn 16%, will you be able to purchase your dream car? At what rate will you just reach your goal? (5 marks) d) You need to borrow $10,000 for your kitchen renovation. The following financial institutions offering this loan to you. TD Bank 8 % per annum and interest is calculated quarterly Saving and Loan Association 7% per annum and interest is calculated monthly 7.5% per annum and interest is calculated semi-annually RBC From which financial institution you will borrow the money? (Please show your calculation)