Use the following to answer questions 28-29 (round to nearest whole dollar) The four actors below have just signed a contract to star in a comedy. Each person signs independent contracts with the following terms: Contract How contract is paid amount Actor 1 $3,000,000 Lump sum in 4 years Actor 2 3,100,000 Lump sum in 5 years Actor 3 1,000,000 Every year for 3 years Actor 4 750,000 Every year for 4 years Assume an annual discount rate of 5% (compounded annually). 28. $_ __ What is the value of the lowest value contract today (round to nearest dollar)? What is the value of the highest paid contract today (round to nearest dollar)? 29.$_ Chapter 8 30. S You would like to start saving for retirement. Assuming you are now 22 years old and you want to retire at age 60, you have 38 years to watch your investment grow. You decide to invest in the stock market, which you expect it to earn about 6% per year into the future. You decide to invest $800 at the end of each month for the next 38 years (456 months). Calculate your accumulated investment at the end of 38 years. (Round to nearest whole dollar) If you do not have a financial calculator use the dynamic factor tables in Canvas (module 8-Factor Toble, type in the interest rate and compounding periods in the blue highlighted portion of the factor table, it'll calculate the factor you need)