Financial planners (and engineering economists) unanimously encourage people to start early in planning for retirement.

To illustrate this point, they frequently produce a table similar to the one below. Fill in the blank cells in this table assuming that your goal is to have $1,000,000 on your sixty-fifth birthday and that deposits start on the birthday shown and continue annually in the same amount on each birthday up to and including your sixty-fifth birthday. Assume that interest is compounded annually at 10 percent/year.

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Birthday of 25 First Deposit Amount of Required Annual Deposit 30 35 40 15 45 50 50 55 60 50 65 $1,000,000