E12-25A Solve various time value of money scenarios (Learning Objective 3) 1. Suppose you invest a sum of $3,000 in an account bearing interest at the rate of 14% per year. What will the investment be worth six years from now? 2. How much would you need to invest now to be able to withdraw $6,000 at the end of every year for the next 20 years? Assume a 12% interest rate. you want to have $160,000 saved seven years from now. If you can invest Assume that your funds ata 6% interest rate, how much do you currently need to invest? Your aunt Betty plans to give you S2,000 at the end of every year for the next ten years. Ifyou invest each of her yearly gifts at a 12% interest rate, how much will they be worth at the end of the ten-year period? Suppose you want to buy a small cabin in the mountains four years from now. You estimate that the property will cost $61,250 at that time. How much money do you 3. 4. 5. need to invest each year in an account bearing interest at the rate of 6% per year to accumulate the $61,250 purchase price