Growing Annuity Payments You want to accumulate $3 millions 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 7.83% Interest, compounded annually. You expect to receive annual raises of 4%, which will offset inflation, and you will let the amount you deposit each year also grow by 4% (1.e, your second deposit will be 4% greater than your first, the third will be 4% greater than the second, etc.). How much must your list deposit be if you are to meet your goal? Round your answer to the nearest cent. 5