According to financial planners, the average retiree requires approximately 70% of their last years working salary each year to live comfortably in retirement. Assume that you want to earn a fixed amount of interest each year in retirement. Your goal is to spend only the interest and still live comfortably; thus, you will be able to spend the same amount of money each year forever. Assume you retire at age 66 and can earn a 6% return on your retirement savings. How much must you have saved to live only off the interest?