Task 2: Financial Literacy Imagine that you need to save $12,000. In this task, you will create and analyze investments to reach this goal. Bold text startPart A:Bold text End Describe two possible financial goals for which you may require $12,000. Classify each as a Italic text startwantItalic text End or a Italic text startneedItalic text End. Do research to ensure that amount is enough for your goal. Bold text startPart B:Bold text End Create and describe three possible investments to reach your goal within five (5) years. Investment 1 is a simple interest investment with 3% annual interest. How much would you need to invest at the beginning? Investment 2 is a compound interest investment, with 3% annual interest compounded monthly. How much would you need to invest at the beginning? Investment 3 is a regular deposit in an account that earns 3% compound interest, compounded once per year. How much do you need to deposit, and how often will you deposit it, to reach your goal? State the details of the three investments and explain the pros and cons of each. Bold text startPart C:Bold text End Calculate and describe the total interest earned on each of your three investments. Explain your thinking and show your work. Bold text startChecklist:Bold text End I have described a financial goal. I have created a recurring payment, a simple interest investment, and a compound interest investment that reaches a goal. I have calculated the interest earned on various investments.