Question 11 1 pts You would like to vacation in Hawaii for one week each year. You can buy a time share for a vacation home in Hawaii for $18,500 today and a maintenance fee of $600 per year starting next year for 10 years. You expect to sell the time share in 10 years for $15,000. Alternatively, you can just pay for the week vacation each year (starting next year). Each year will cost you $1,500. If your investments earn 5% per year (compounded annually) which alternative is cheaper and by how much in present value terms? Pay each year it will save you $2,506 Buy the time share it will save you $2,459 Pay each year it will save you $2,252 O Pay each year it will save you $2,342 Question 15 1 pts Your retirement will last 20 years, starting in 1 year. You want to have $60,000 each year of your retirement. How much would you have to invest today to exactly pay for your retirement, if your investments earn 5.00% APR (compounded annually)? $762,687 $747,733 $785,119 $777,941