Directions: 1. Solve the following problems. Hand write your solutions and explanations on your own paper following the directions in the Canvas assignment. Do not write answers on this page. 2. Show your work AND explain your reasoning using complete English sentences. 3. Take a picture of your solution and explanation and save the image as a pdf. 4. Turn in your solutions by submitting it for peer review in the correct Canvas assignment 1. Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded annually. At the end of 12 years, she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years. a. [3 pts] What was the value of the IRA at the end of 12 years? (Grade breakdown: 1 for correct formula; 1 for plugging in; 5 answer, 5 for reasoning) Replace the italicized words with your image of the solution, answer and explanation. (for question la only) b. [2 pts] What was the value of the investment at the end of the next 11 years? (Grade breakdown: 5 for correct formula; 5 for plugging in; 5 answer, 5 for reasoning) Replace the italicized words with your image of the solution, answer and explanation. (for question lb only) 2. Suppose Miss Roxanne Davenport is 25 years old right now and puts away $1,800 per quarter in an account that returns 6% interest. a. [3 pts) How much will be in the account when she turns 65? (Grade breakdown: 1 for correct formula; 1 for plugging in; 5 answer: 5 for reasoning) -.jpg Ps Ai id wP9 x1 2. Suppose Miss Roxanne Davenport is 25 years old right now and puts away $1,800 per quarter in an account that returns 6% interest. a. [3 pts] How much will be in the account when she turns 65? (Grade breakdown: 1 for correct formula; 1 for plugging in; 5 answer;.5 for reasoning) Replace the italicized words with your image of the solution, answer and explanation (for question 2a only) b. [1 pt] What is her total contribution to the account? (Grade breakdown: 25 for work; 25 answer; 5 for reasoning) Replace the italicized words with your image of the solution, answer and explanation. (for question 2b only) C. (1 pt) How much interest did she earn? (Grade breakdown: 25 for work; 25 answer; 5 for reasoning) Finance Written Problem Set jpg Ps Ai Id w P9 x 1 MacBook