Problem 5.17 Calculating Present Values (LO2] Suppose you are committed to owning a $209,000 Ferrari. If you believe your mutual fund can achieve an annual rate of return of 11 percent and you want to buy the car in 8 years on the day you turn 30, how much must you invest today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Investment Problem 5-18 Calculating Future Values (LO1] a. You have just made your first $4,900 contribution to your retirement account. Assume you earn a return of 12 percent per year and make no additional contributions. What will your account be worth when you retire in 34 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What if you wait 10 years before contributing? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Future value for starting now b. Future value if waiting 10 years Problem 5-19 Calculating Future Values (LO1] You are scheduled to receive $18,500 in three years. When you receive it, you will invest it for nine more years at 9.25 percent per year. How much will you have in twelve years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Amount