PART 1 [TOTAL: 18 MARKS] Angela Foo, a 25-year-old college graduate, wishes to retire at age 65. To supplement other sources of retirement income, she can deposit RM2,000 each year into a tax-deferred individual retirement arrangement (IRA). The IRA will be invested to earn an annual return 10%, which is assumed to be attainable over the next 40 years. Question 1 (3 marks) If Angela Foo makes annual end-of-year RM2,000 deposits into IRA, calculate how much she will have accumulated by the end of her sixty-fifth year? Question 2 (3 marks) If Angela Foo decides to wait until age 35 to begin making annual end-of-year RM2,000 deposits into IRA, determine how much will she have accumulated by the end of her sixty-fifth year? Question 3 (3 marks) By using your finding in question 1 and 2, explain the impact of delaying deposits into the IRA for 10 years (age 25 to age 35) on the amount accumulated by the end of Angela's sixty-fifth year? Support your answer with figures. Question 4 (9 marks) Recalculate question 1, 2 and 3, assuming Angela Foo makes all deposit at the beginning, rather than the end, of each year. Explain the effect of beginning-of-year deposits on the future value accumulated by the end of Angela's sixty-fifth year.