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Btion 10 (6 points) Consider and answer the following questions independently (all interest rates are compounded annually): a) You are planning to purchase a car five years later. You expect that you will need $30,000 to purchase the car that you like at that time. You plan to invest a certain amount of money now, so that you will have $30,000 five years later. Assume an interest rate of 5% per year. How much money do you have to invest now? Show your work. (2 marks) b) You will be graduating from university in three years. At that time, you plan to invest $1.000 in a financial product that will generate 4% interest per year. How much money will you have nine years from now? Show your work. (2 marks) c) You plan to invest $2,000 in a financial product when you turn 24 years old. The Interest rate will be 3% per year. At what age will you have $2,300? Show your work (2 marks) DO Format BIU- B. A 9 fa 3 4