section IIl Quantitative analytical questions (45 points) (Show details for full credits) 1. (5 points) Mr. Miser, who is 35 years old, has just inhorited $11,000 and decides to use the windfall money in a bank which promises a return of 6% per year unta his towards his retirement. He places the planned retirement in 30 years. If his funds earn 6% interest compounded annually, how much will he have at retirement? Repeat the analysis for both semi-annual and continuous compounding (5 points) Assume the total cost of a college education will be $50,000 when a child enters ollege in 12 years. His parents have $10,000 to invest today. What rate of interest must they arn on their investment to cover the cost of their child's education