Problem 7 You are taking a hard look at your spending habits to see where you can trim some expenses to save for a trip to Italy in 2 years time. You have uncovered the following potential savings areas: o You pick up a Starbucks Iced Oat Latte every day (5 days a week) on your way to work at a cost of $6.00 including tax. o At lunch (5 days a week) youd pick up a sandwich and coffee from the bakery at your office building for an all-in cost of $13. o You hate to cook so order out three nights a week at a cost of about $20 per meal. By, bringing your own coffee to work, packing your lunch each day, and only eating out occasionally, you estimate you can save 80% of these expenses. If you invest your weekly savings into a mutual fund with an annual rate of return (APR) of 6.5%, compounded weekly, a) How much will you have accumulated at the end of two years to fund your trip? b) How much would you have to deposit in one lump sum today to have the same amount in your savings at the end of two years?