PART B: SHORT ANSWER. Please answer in the space provided. You must show all of your work and provide explanations where applicable to receive credit. 11. The investment bank you work for predicts strong performance next year, and as a result you expect to receive a cash bonus of $75,000 at that time. You plan to invest 10% of it in your retirement account and increase the amount by 4% per year for 40 years. If you expect to earn an APR of 8%, how much will be in your account 40 years from now? (12 points)