Finance 440 TVM Exercise 2 brow 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 done. 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. 1. (20 points) When you were 10, which was 15 vears ago, you inherited $10,000 from your Great Aunt Sue. Your mother never mentioned this to you, but put the money in an account that has earned an average of 4.25% compounded daily. She brought you the statement today because she really wants you to move out and get your own place. How much is in that account 2. (20 points) You have been living at home since your graduation three years ago (assume 36 months ago), and have been putting aside $200 per month in an account that paid 3% annually instead of paying rent. How much is in that account? 3. (30 points) You decide to use $10,000 from your combined accounts to pay down your student loan, and use the rest to make a down-payment on a two bedroom condominium in a building where a few of your friends have already bought places. You negotiate a purchase price of $57,498. You get a 30 year mortgage for the balance, after taking away the down payment, at 5%. What are your monthly payments going to be? 4. Even though you have not been very proactive about your financial future up to this point, your mom has been nagging you to consider your retirement after you move out of her house. She has recommended that you plan to retire at 65 (40 years from now) and that you should have enough saved to draw $25,000 per year after that for another 25 years. h (15 noints) How much will you need to have in an account in 40 years to draw that annual amount if you have an account that earns 6% per year? (15 points) How much will you need to save monthly in that 6% account starting now to get there