Assume you want to retre early at age $4. You plan to save using one of the tollowing two stralegies: (1) 69v0.$2.700 a year in an IRA beginning whon you are 24 and onding when you are 54 ( 50 Years) or (2) wat unti you are 42 to ntart saving and then save 56,750 per year for the next 12 years. Assume you will eam the historic stock market average of 12% per yeac. (Cick the icon to view the tibure value annuty factor table.) (Click the icon to vien the future value factor table) (Cilick the icon to vies the presem value annuity tactor table.] (Cick the ican to vew the present value laclor table.) Read the 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