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You are saving for retirement. To live comfortably, you decide you will need to save $ 3 , 5 0 0 , 0 0 0

You are saving for retirement. To live comfortably, you decide you will need to save $3,500,000 by the time you are
65. Today is your 20th birthday, and you decide, starting today and continuing on every birthday up to and including
your 65 th birthday, that you will put the same amount into a savings account. If the interest rate is 7%, how much
must you set aside each year to make sure that you will have $3,500,000 in the account on your 65 th birthday?
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