Question 3 of 12 , Step 1 of 1 Use the formula for present value of money to calculate the amount you need to invest now in one lump sum in order to have \( \$ 1,000,000 \) after 40 years with an APR of \( 11 \% \) compounded quarterly. Round your answer to the nearest cent, if necessary.

Suppose you want to have \( \$ 700,000 \) for retirement in 25 years. Your account earns \( 4 \% \) interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn?

"In addition, she said banks operating in Africa need to have a more end-to-end approach to risk management, considering bankability at all stages." As a follow up to Question 1 above and in addition to the solutions recommended in the article, recommend how Southern African financial institutions can improve their risk management strategy.

The original price of a tablet was \( \$ 550 \). During a sale, Melvin was given a 30\% discount for the tablet. How much did he pay for the tablet?

You deposit \( \$ 1000 \) each year into an account earning \( 7 \% \) interest compounded annually. How much will you have in the account in 35 years?

You deposit \( \$ 500 \) each month into an account earning \( 6 \% \) interest compounded monthly. a) How much will you have in the account in 20 years? b) How much total money will you put into the account? c) How much total interest will you earn? \( \$ \)