THE AGE NEEDS TO PLEASE BE TWENTY THREE YEARS AND FOUR MONTHS. INSTANT LIKE WHEN ANSWERED!

1. Express your hypothetical age in years and months only (Forget about the day, for example, if you are 22 years and 5 months and 15 days, then use 22 years and 5 months. If you are 22 years and 6 months and 16 days, then use 23 years and 7 months.) Assume an age that has a month in it, saying I am 21 years is not acceptable, one could say 21 years and one month or 2 months or 3 months, or 21 years and 11 months that have not been chosen by any other students. Assume you buy a zero-coupon bond that matures when you get to the retirement age of 67. If your goal is to have $1,000,000.00 when you retire at age 67 and if the yield of this bond is 5% compounded semiannually, how much you must invest today to achieve your goal? The face value of each zero-coupon bond is $10,000.

2. Assume an age of between zero to three years for your child that has not been chosen by other students (Must have a month, like 6 months, or 1 year 2 months, or 2 years 6 months) and you like to have $40,000 for 4 years of college expenses at UHV when your child gets to 18-year-old. To implement this strategy, you decide to buy a zero-coupon bond, maturity will be when your child reaches the age of 18 years old, with a face value of $40,000 that yields 4.6 % semi-annual. What is your total investment today to achieve this goal?