Example: You have $30$ years left until retirement and

want to retire with $$2$ million. Your salary is paid

annually, and you will receive $$70,000$ at the end of

the current year. Your salary will increase at $3\%$ per

year and you will earn a $9\%$ return on the money you

invest. If you save a constant percentage of your

salary, what percentage must you save each year?