1. Problem 5.03 (Finding the Required Interest Rate) Your parents will retire in 24 years. They currently have $400,000 saved, and they think they will need $1,400,000 at retirement. What annual interest rate must they eam to reach their gool, assuming they dont save any addtional funds? Round your answer to two decimal places. 2. Problem 5.05 (Time to Reach a Financlal Goal) Yeu have 513,656,70 in a brokersge account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $250,000. Yeu expect to earn 13% annually on the account. How many vears wit it take to reach your goal? Round your answer to the nearest whole number. years A rookie quarterback is negotiating his first NFL contract. His opporturity cost is 10%. He has been offered three possiole 4-vear contracts. Payments are guaranteed, and they would be made at the end of each year. Terms of each contract are as follows: Contract 1 s),000,000 $3,000,000$3,000,000;$3,000,000 Contract 2.12,000,000$3,500,000$4,500,000$5,000,000 Contract 3$7,000,000$1,000,000$1,000,000:51,000,000 As his advise, which cenoract world vou recommend that he accept