You want to have $2.5 million in real dollars (HINT: it means we need to use the real interest rate in the calculation) in an account when you retire in 40 years. The nominal return on your investment is 10.3% and the inflation rate is 3.7% (HINT: do not use the approximation when finding the real interest rate). What real amount must you deposit each year to achieve your goal?

Can anyone solve this without using excel formulas? Thanks!