You just turned 24 years old and would like to start saving for your dream car which you plan to buy on your 30th birthday. You have placed $5,000 in a locked-in investment account. a. if you expect the car to cost $90,000 in 6 years what annual rate of return are you required to earn in your locked-in investment account? Suppose that starting on the day of your 25th birthday you begin making deposits of $975 into a separate savings account. The first deposit occurs on your 25th birthday and you will continue to make deposits every 2 months up to and including your 30th birthday. The savings account offers a guaranteed rate of return of 6% per annum compounded monthly. b. What is the new required annual rate of return you need to earn in your locked-in investment account to be able to afford your dream car? You just turned 30 years old. Your savings and locked-in investment account only have a combined value of $70,000. You decide to take out an auto-loan so you can still purchase your dream car today. The car dealer offers you 2 choices of financing. Choice 1 is a 4 year loan that charges 10% per annum compounded monthly with monthly payments. Choice 2 is a 4 year loan that charges 9.9681% per annum compounded weekly with weekly payments c. What is the monthly payment under choice 1 ? d. What is the weekly payment under choice 2 ? e. Show that both choices have approximately the same effective annual rate. Is the total interest payments under each plan the same? Explain