4. You want to have $1 million to use for retirement in 35 years. If you can earn 1% per month, (a) How much do you need to deposit on a monthly basis if the first payment is made in one month? (b) What if the first payment is made today? N % PV PMT FV 4a. You are saving for a new house and you put $10,000 per year in an account paying an annual interest rate of 8%. The first payment is made today. How much will you have at the end of 3 years? N % PV PMT FV 4b. Suppose you want to buy a new computer system and the store is willing to sell it to allow you to make monthly payments. The entire computer system costs $3,500. The loan period is for 2 years and the interest rate is 16.9% with monthly compounding. What is your monthly payment? N % PV PMT FV