Assume you want $1,000,000 saved up by the time you retire. Suppose you decide to start saving at age 26. As of now, Social Security says you do not receive your full benefits until you are 66 years old so you have 40 years to build up your retirement savings. You can make monthly payments into safe investments earning 4% APR compounded monthly. How much will you have to pay each year in order to retire when you are 66?