Dr. Rivas plans to retire today and would like an income of $500,000 per year for the next fifteen years, with the income payments starting one year from today. He will be able to earn interest of 6...

Dr. Rivas plans to retire today and would like an income of $500,000 per year for the next fifteen years, with the income payments starting one year from today. He will be able to earn interest of 6 percent per year compounded annually from his investment account. What must he deposit today in his investment account to achieve this income of $500,000 per year?