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Assume you want to retire early at age 54. You plan to save using one of the following two strategies: (1) save $5,100 a year in an IRA beginning when you are 29 and ending when you are 54 (25 years) or (2) wait untl you are 39 to start saving and then save $8,500 per year for the next 15 years. Assume you will earn the historic stock market average of 12% per year. F5 (Click the icon to view the future value annuity factor table.) (Click the icon to view the future value factor table.) icon to view the present value annuity factor table.) (Click the icon to view the prosent value factor table.) Read the reguirements. Requirement 1. How much out-of-pocket cash will you invest under the fwo options? Calculate how much out-of-pocket cash you will invest under the two options. Option 1\% Requirements 1. How much out-of-pocket cash will you invest under the two options? 2. How much savings will you have accumulated at age 54 under the two options? 3. Explain the results. 4. If you let the savings continue to grow for eight more years (with no further out-of-pocket investments), under each scenario, what will the investment be worth when you are age 62