Assume you want to retire early at age 52. You plan to save using one of the following two strategies: (1) save $5,100 a year in an IRA beginning when you are 27 and ending when you are 52 (25 years) or (2) wait until you are 42 to start saving and then save $12,750 per year for the next 10 years. Assume you will earn the historic stock market average of 10% per year. (Click the icon to view the future value annuity factor table.) (Click the icon to view the present value annuity factor table.) Read the Click the icon to view the future value factor table.) (Click the icon to view the present value factor table.) Requirement 1. How much out-of-pocket cash will you invest under the two options? Calculate how much out-of-pocket cash you will invest under the two options. Option 1: Option 2: Requirement 2. How much savings will you have accumulated at age 52 under the two options? Calculate the total amount of savings that you will have accumulated at age 52 under the two options. (Round the savings to the nearest dollar amount.) Option 1: 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 52 under the two options? 3. Explain the results. 4. If you let the savings continue to grow for ten more years (with no further out-of-pocket investments), under each scenario, what will the investment be worth when you are age 62? Reference Reference Present Value of Annuitv of $1 Reference Reference