You have decided to begin saving for retirement. You are currently 20 years old and you would like to retire when are 65. Your goal is to have $3 million when you retire. How much will you need to put away each year to reach your goal assuming that you will make equal payments starting year 1 and ending when you retire and that you will earn 12% on your money? Name two things that would allow you to put-away less each year and still have your money grow to $3 million. Note this is an ordinary annuity.