The requirements of the assignment are as follows: 1. Explain what the "Rule of 72" is and how you might apply it to saving for college or for a new car. (8 pts) 2. Calculate what you would need to invest every year to be able to retire with $1,000,000. Assume that you are earning 6% compounded annually on your investment. Assume your retirement age is 65 years of age. To earn credit for this you will need to show me how you came up with your answer. Remember that if you are 22 you have 43 years until retirement, but if you are 43 you only have 22 years to retire. (8 pts) 3. Provide two problems that deal with the time value of money that could be used in a testing situation. You must also provide the solution. (4 pts)