Growing Annuity Payments

You want to accumulate $$2$ million by your retirement date, which is $25$ years from now. You will make $25$ deposits in your bank, with the first occurring today. The bank pays $7\%$ interest, compounded annually. You expect to receive annual raise of $3\%,$ which will offset inflation, and you will let the amount you deposit each year also grow by $3\%($i$.$e$.,$ your second deposit will be $3\%$ greater than your first, the third will be $3\%$ greater than the second, etc.$).$ How much must your first deposit be if you are to meet your goal? Do not round intermediate calculations. Round your answer to the nearest cent. Enter your answer as a positive value.

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