5. Chapter 11 Financial Planning Exercise 1 Amount to invest to meet objectives Use Worksheet 11.1. Ashley Olson is early in her career and is now employed as the managing editor of a well-known business journal. Although she thoroughly enjoys her job and the people she works with, she would really like to be a literary agent. She would like to go on her own in about 5 years and figures she'll need about $55,000 in capital to do so. Given that she thinks she can make about 11 percent on her money, use Worksheet 11.1 to answer the following questions. a. How much would Ashley have to invest today, in one lump sum, to end up with $55,000 in 5 years? Round the answer to the nearest cent. $ b. If she's starting from scratch, how much would she have to put away annually to accumulate the needed capital in 5 years? Round the answer to the nearest cent. $ C. How about it she already has $10,000 socked away; how much would she have to put away annually to accumulate the required capital in s years? Round the answer to the nearest cent. d. Given that Ashley has an idea of how much she needs to save, briefly explain how she could use an investment plan to help reach her objective The input in the box below will not be graded, but may be reviewed and considered by your instructor