You turned 20 today and you want to retire on your 60th birthday. Starting with the day of your retirement, you would like to have a growing annuity ($75,000 payment on the day of your retirement and growing by 3% each year thereafter) for 25 years. You make a resolution to save the same amount of money every year for 30 years to fund your retirement. Assume the first deposit is on your 25th birthday. Assume an annual interest rate of 5%. How much must you deposit annually into your investment account on each birthday (30 total deposits) to achieve your goal?