You are saving for retirement. To livecomfortably, you decide you will need to save $ 4 comma 000 comma 000

$4,000,000 by the time you are 65

65. Today is your 20 th

20th birthday, and youdecide, starting today and continuing on every birthday up to and including your 65th birthday, that you will put the same amount into a savings account. If the interest rate is 4 %

4%, how much must you set aside each year to make sure that you will have $ 4 comma 000 comma 000

$4,000,000 in the account on your 65th birthday?