MA Je ANTO year BUY Assignment Problems 1. On Naomi's sixth birthday, her parents put $24,000 into an investment account that promises to pay a fixed interest rate of 8 percent per year How much money will she have in this account when she turns 187 Round to two decimal places. You are required to use a financial calculator or spreadsheet (Excel) to solve 10 problems {provided on page 5) on the applications of the time value of money. You are required to show the following 4 steps for each problem (sample questions and solutions are provided for guidance): Develop the timeline (linear representation of the timing of cash flows) (ii) Identify the time value of money variable (PV.FV, PMT, Nor Rate) which needs to be calculated in the question. (111) Identify the values of the remaining four variables (PV, FV, PMT, N or Rate) from the question. Be sure to input positive or negative signs. (iv) Calculate the correct value of the variable identified in step (ii) e