Compare these 4 scenarios by calculating the future values You are starting your career with $0 savings in your retirement account. Assume you will work 30 years then retire with a half million bucks. How are you going to get there? Let's assume the rate of return of any investments you make will be 5% (compounded annually). Consider these strategies - do any of them meet your goal? For each, draw a cash flow diagram and clearly label your future value. a. You take the slow and steady approach putting away $100 per month into your 401(k) for a total contribution of $1200 per year. You continue at that level for 30 years b. You're young and single, no mortgage and just a pet goldfish. You reason that you can afford to aggressively put away $12,000 per year for the first 5 years, knowing your personal expenses will likely go up after about that long. After the 5th year, you make no more contributions. c. You squander all of your time then start investing $20,000 per year for the final 5 years (years 26-30) hoping to make up for lost time. What were you thinking?? d. Your rich uncle dies this month and leaves you $120,000. you invest it right away and hope that will be enough to cover you in 30 years. You make no more investments