Ryan wants to have $2,000,00 in savings by the time he retires in eight years. He has already accumulated $500,000 in investments earning a fixed rate of 6% per year. How much will he have to save annually for each of the next eight years, beginning in one year's time, in the order to meet his goal? Assume that he can only earn a 4 % return on his new savings but will continue to earn 6 % on his current investments.