You are saving for retirement. To live​ comfortably, you decide you will need to save $4 million by the time you are 65. Today is your 22nd ​birthday, and you​ decide, starting today and continuing on...

You are saving for retirement. To live​ comfortably, you decide you will need to save

million by the time you are

Today is your

​birthday, and you​ decide, starting today and continuing on every birthday up to and including your

​birthday, that you will put the same amount into a savings account. If the interest rate is

how much must you set aside each year to make sure that you will have

million in the account on your

​birthday?

The amount to deposit each year is

​(Round to the nearest​ dollar.)