John is 35 years old and wants to have 1 million dollars in savings by the time he retires at 65. He plans to open a savings account that pays 4% interest compounded quarterly and he will be making $250 quarterly depositis into the account. John will need to make an initial deposit of $ to reach his goal of 1 million dollars in Time Value of Money Solver Enter the given values Solve N:= 0 Number of Payment Periods I: % = 0 Annual Interest Rate as a Percent PV: = 0 Solve Solve Present Value 0 Solve 0 Solve PMT:= Payment FV: = Future Value P/Y: Payments per Year C/Y: 12 D Compounding Periods per Year PMT: = 12 END savings at retirement