Reference Reference Present Value of Annuitv of $1 Reference Reference until you are 41 to start saving and then save $5,625 per year for the next 12 years. Assume you will earn the historic stock market average of 14% per year. Requirement 1. How much out-of-pocket cash will you invest under the two options? Calculate how much out-of-pocket cash you will invest under the two options. Option 1: Option 2: Requirement 2. How much savings will you have accumulated at age 53 under the two options? Calculate the total amount of savings that you will have accumulated at age 53 under the two options. (Round the savings to the nearest dollar amount.) Option 1: Option 2: Requirement 3 . Explain the results. The strategy involving grows substantially larger over time. This is due to the fact that the savings are invested so time does the work. Calculate the total amount of savings at age 62 , with no further out-of-pocket investments, under each scenario. (Round the savings to the nearest dollar amount.) Option 1: Option 2