Consider and answer the following questions independently (all interest rates are compounded annually): a. You are planning to purchase a new vehicle in four years, and the price of the vehicle at that time is expected to be $25,000. You currently have $23,000, and you would like to invest the money in a financial product over the next four years. To accomplish your goal, what is the annual rate of return that the financial product has to generate? Show your work. (2 marks) 6. You will be receiving $5,000 in three years, and at that time, you are planning to invest the money in a financial product that generates 5% interest per year. How much money will you have six years from now? Show your work. (2 marks) c. Assume that you will be graduating from the university at age 22, and you plan to invest $3.000 in a financial product at that time. The financial product is expected to generate 4o interest per year. At what age will you have $3.500? Show your work. (2 marks) Paragraph B I U. AV Ev Ev : O