Assume yoi want to te6ire eary at age 53. You plan to save using one of tho following two stratipgies (1) save $4,500 a year in an IRA beginning whon you are 23 and onding when you are 53 (30 yearsy or (2) wat until you are 38 to start saving and then sawe $9.000 per year for the ned 15 years. Assume you will earn tho histono stock market average of 12+4 per year: (Click the icon to vew the future value annuity factor table) (Click the icon to view the future value lacter table.) (Click the icon to viaw the oresens value anruly tador table.) (Click the icon to vew the presant walue tacior table.) Read the retuirements. Requirement 1. How much of Requirements Caiculane how much out-el-pa. Oetion 1: 1. How much out-al-pocket cath wat you invest under the two options? 2. How much savings wit you have accumulated at age 53 under the two. optiens? 3. Explain the results. 4. If you let the savings continue to grow for nine more years (with no futher out-ol-pockel investments), undor esch scenorio, what will the investment be Worth when you are age 62