Investor Mike has two main financial goals in his life. First is to retire after 40 years and get retirement income 200 000 euros per year for next 20 retirement years. Second big wish is to leave 1mio euros to his son after his death (which happens exactly 20 years after his retirement)

We know that Mike can save 18 000 dollars per year for next 20 years and on 21st year he invests lump sum big enough to fulfill his dreams. All investments earn 6% annual interest.

How much Mike must invest on 21st year?

Please tell me the exact answers at each step, and also what would be the final answer the amount that Mike must invest on the 21st year?