13. You have decided that you want to be a millionaire when you retire in 32 years. 13a. If you can earn a 8% return, how much do you have to invest today? I have to invest $_ today. 13b. If you can earn an 10% return, how much do you have to invest today? I have to invest today. 14. Last National Bank charges 13.2 percent compounded monthly on its business loans. First Diversified Bank charges 13.5 percent compounded semiannually. As a potential borrower, which bank would you go to for a new loan? a. Effective rate of 13.2 percent compounded monthly = b. Effective rate of 13.5 percent compounded semiannually =