Part 3: Financial Planning Using Time Value of Money Concepts 1. Set 1 financial goal for you or your character, that requires them to have a certain amount saved at least 3 years from now. State exactly how much money you/they need to have, and how many years you/they have to accumulate the money (round to the nearest whole number of years eg 5.8 years would round to 6) 2. If you/they can cam an annual interest rate of 6% from your investments (assume annual compounding), how much do you/they need to save each year to reach your goal? Be sure to show your work if you want partial credit, in the event that you are only partially correct Notice that the point of the assignment is for you to demonstrate that you know how to use the annuity tables correctly. To show your work, please identity which of the A formule has appropriate for your calculation, and show the numbers you are using and what you are solving for 3. In light of your net cash flow situation identified in the first assignment will you be able to achieve your goal without making budgetary adjustments? not what adjustments would you make you did the first assignment for someone else you can answer on their behalf about being able to afford it M and recommend and necessary adjustments