10

You plan to retire in 30 years, and you want to have $1 million at that time. How much must you put into an account at the end of each of the next 20 years to be able to meet your goal assuming you are expecting to earn 9% per year? Note: You only want to make contributions for 20 years, so no contributions will be made to your account in the 10 years immediately preceding your retirement. (Show your work or calculator input. Give your answer to 2 decimal places. Show the unit of measure -- $s, pounds, etc.)