1. A bank offers its customers a 10-year savings plan with the following terms:

• 7% interest during the 1^st, 2^nd, 3^rd, and 4^th years (Years 1 through 4).
• 9% interest during the 5^th, 6^th, 7^th, and 8^th years (Years 5 through 8).
• 10% interest during the 9^th and 10^th years (Years 9 and 10).
• The plan involves making 10 equal annual deposits, with the first deposit made today and the last deposit made nine years from today.

What is the value of the annual fixed deposit needed to secure $1,000,000, 10 years from today?