Solve 9, 10, 11,12

9. Suppose you are committed to owning a $200,000 Ferrari. If you believe your mutual fund can achieve a 10 percent annual rate of return and you want to buy the car in 7 years on the day you turn 30 , how much must you invest today? 10. You have just made your first $3,000 contribution to your retirement account. Suppose that you earn a 5 percent rate of return and make no additional contributions. a. What will your account be worth when you retire in 30 years? b. What will your account be worth when you retire in 30 years if you wait 10 years before contributing? 11. You are scheduled to receive $25,000 in two years. When you receive it, you will invest it for six more years at 10 percent per year. How much will you have in eight years? 12. You expect to receive $20,000 at graduation in two years. You plan on investing it at 10 percent until you have $51,875. How long will you wait from now