wit -) You want to be a millionaire so you will sell all your worldly belongings which leaves you $250,000. You want this to happen in 20 years and feel you can get an investment that will you 4.5% interest compounded monthly. How much would you need to contribute each mc during this 20 years to get to $1,000,000? What if the interest rate was 6.7%? Talina T 2) Looking at question 1 that looks like way too much to contribute monthly so you have a new plan, you will just try to get to $250,000 saved in 10 years with an investment that will earn 4.2% compounded monthly. You know you can put in $1000 a month and what you need to know is how much would you need today as an initial (pv) investment to make this happen? Once you find that PV, you have decided that you will put that amount on a credit card and pay it off consistently for the next 12 years at 16% interest compounded monthly