Reference Assume you want to relite early at age 53 . You plan to sawe using one of the following two stralegies: (1) save $3900 a year in an IRA beginning when you are 23 and encing when you are 53 (30 years) or (2) wait until you are 38 to start saving and then save $7.800 per year for the next 15 years. Assume you will earn the historic stock makket avorage of 10% peryear (Click the icon to view the future value annuity factor table) (Cick the icon to view the present valus annuity factor table) (Click the icon to view the future value factor tabilo) (Click the icon to view the present velue factor table.) Read the requirements. Requirement 1. How enuch out-of-pocket cash will you invest under the fro options? Calculate how much cuffof-pocket cash you will hvest under the fwo options Qpation 1. Requirements 1. How much out-of-pocket cash will you invest under the two options? 2. How much savings will you have accumulated at age 53 under the two options? 3. Explain the results. 4. If you let the savings continue to grow for nine more years (with no further out-of-pocket investments), under each scenario, what will the investment be worth when you are age 62? Reference Reference Reference Reference Assume you want to relite early at age 53 . You plan to sawe using one of the following two stralegies: (1) save $3900 a year in an IRA beginning when you are 23 and encing when you are 53 (30 years) or (2) wait until you are 38 to start saving and then save $7.800 per year for the next 15 years. Assume you will earn the historic stock makket avorage of 10% peryear (Click the icon to view the future value annuity factor table) (Cick the icon to view the present valus annuity factor table) (Click the icon to view the future value factor tabilo) (Click the icon to view the present velue factor table.) Read the requirements. Requirement 1. How enuch out-of-pocket cash will you invest under the fro options? Calculate how much cuffof-pocket cash you will hvest under the fwo options Qpation 1. Requirements 1. How much out-of-pocket cash will you invest under the two options? 2. How much savings will you have accumulated at age 53 under the two options? 3. Explain the results. 4. If you let the savings continue to grow for nine more years (with no further out-of-pocket investments), under each scenario, what will the investment be worth when you are age 62? Reference Reference Reference