use formulas to solve the problems

7. Your financial objective is to have $3,000,000 upon your retirement 40 years from now. If you have committed to make an equal annual deposit into an investment account that provides 9 percent annual return, how much will the annual deposit be?

8. If you invest $30,000 a year, every year in an account that earns 8 percent annual return, how long will it take for the balance in the account to reach $2,000,000?