Future value with perlodic rates. Denise has her heart set on being is millionaire. She decides that at the end of every yoac, the will put away $4,600 into her 7 want to be a millonare account" her local bank. Sto expects to eam 6.5% annually on her account. a. How many years must Denise faithkuly put oway her money to sucooed at becoming a milionaire? b. If Denise switches to a monthy savings plan and puts one-tweith of the $4,600 away each month (\$383.33), how much will she have in 43 years at the 6.5% APR? c. Wiry is the future value under the monthly savings plan mote than the $1,000,000 goal? Next, lot's assume Denise is now thity-five years old and thus has thity years for uwing towatd het one-million-dollar goal. 5 he anticipsies as ApR of 9.5% on her investrents. d. How much does she need to sovo each year to becerte a milionaire by age staty tive if the puts money away annualt? 6. How much does the need to sime t she puts money away monthly? 1. Why does it take mote per month when she is puting money ansiny at 9.5. than when the was earing a lower rate of 6.5% over the 43 years? Nobe: Ignore the eflect of taxes on your calculations. a. If Decise puts awwy 54,600 at the end of esch year and earns 6.5% annuaty on her account, hew many years must ahe fathdily put awy her monwy to wecoed at becoming a milionare? years (flound to two docimal pisces.)