75. Calculating Growing Annuities (LOI) You have 40 years left until retirement and want to retire with $2 million. Your salary is paid annually, and you will receive $40,000 at the end of the current year. Your salary will increase at 3 percent per year, and you can earn a 11 percent return on the money you invest. If you save a constant percentage of your salary, what percentage of your salary must you save each year