Finance 340 Homework Due 10/27/21 Draw the time line for this problem. Write out the formulation for each part so I know that you know what you are supposed to be doing, in case your numbers come out wrong. Clearly identify what you have and what you need to solve for and show all of your work. Round your answers to the nearest dollar Bilbo Baggins wants to save money to meet two objectives. First, he would like to be able to retire 30 years from now with retirement income of $2,000 per month for 25 years. Second, he would like to purchase a cabin in Rivendell in 10 years at an estimated cost of $380,000. He can afford to save $2,500 per month for the next 10 years. If he can earn 7% annually how much will he have to save each month in years 11 through 30