Asiume you want to rotie early ar age 54 You pan to save using one of the folowing two atrategies: (1) save $4.800 a year in an IRA beginning when you are 28 and ending when you are 54 (2.5 yeac) or (2) wat unti you are 39 to starf saving and then save 88.000 per year for the next 15 years. Assume you will eam the historio stock market average of 14% per year. (cick the icon to virw fre futurn vilue annuty factor table.) (Cick the loon ta viow the future value fackor table.) (Cick the ison to viow the present value arnuty tactor table.) (Cick the icon to viow the present value faclor table). Read the cegriments Requirement 1. How much out-of-pocket cash will you irvest under the two optons? Calculate how much out offocket eash you will imsest under the two opsons. Option : : Reference Reference Reference - X ginning when you are 20 and ending when you s ck market average of 14% per year. Reference Requirements 1. How much out-of-pocket cash will you invest under the two options? 2. How much savings will you have accumulated at age 54 under the two options? 3. Explain the results. 4. If you let the savings continue to grow for eight more years (with no further out-of-pocket investments), under each scenario, what will the investment be worth when you are age 62