4. By choosing a less exPensive component, you can save $1,000 now but there will be an additional expense of $1,500 10 years from now. If you invest the $1,000 at 5% interest compounded annually, will the investment pay for the added expense? 6. How much would you have after 5 years if you saved $2,000 per month and the nominal interest rate was 12%? 7. How much would you need to invest now to finance a $100,000 expense 6 years from now if the investment pays 8% interest per year compounded quarterly