Please help with this question from personal financial planning . Thank you !

D to a bug in Chr, page my mt Click to 2. Meet your investment goals - calculating required capital How Much Capital Do You Need to Start Investing? The motivation for making Investments IS largely driven by the goals you have. These goals could be shot-term such as buying a new car, saving for a down paymentor save enough totake a year off and travel In any situation, the first step is to identifying the amount of capital you need and how much risk are you Willing to take for the return you expect. Ciano,' is a 23-year-old database designer whcse primary long-term financial goal is to save enough to take a year off and travel Therefore, he wants to begin an investment plan that will make this a reality within 5 years. He currently has $3,000 saved for this purpose, and he wants todetermine the appropriate monthly savings amount that will allow him to reach his goal. He estimates that he can earn an average annual return of 5%, and he would like to save a total of $30,000 to cover his expenses for the year. Table of Future Value Factors Table of Future Value Annuity Factors Year 40 2% 1.020 1.104 1.219 2.208 1.050 1276 1629 7.040 1.080 1469 2.159 21.724 I_LOO 1.611 2.594 45258 Year 40 5204 10.950 60401 5.526 12.578 120.797 5.867 14487 259.052 6.105 15.937 442.580 If he invests the $3,000 today, the terminal value of this initial Investment in 5 years (earning an average 5% return) Will _ This means that he must accumulate the through his annual savings plan to obtain the full $30,000 to cover his expenses for the year. still assuming an average return on Investment of the additional yearly investment required to reach dancy's targeted financial goal within 5 years Suppose Instead that Ciano,' had no capital saved and thus needed toaccumulate the entre $30,000 in the next 5 years. In this case, his annual contribution would have to When Ciano,' starts With an initial Investment of $3,000, the total amount that he ends up contributing to accumulate $30,000 is equal to the initial Investment plus the additional yearly payments, for a total of _ When he stans with no Initial capital contribution, the amount he ends up contributing IS equal to the sum of all annual contributions you calculated in the no-initial-capital scenario, for a total of Once Ciano,' has determined the annual amount he needs to save, the next step toward achieving his goal IS coming up with an investment plan. True or False: The appropriate Investment plan depends on the Investment objective O False O True