You would like to start saving for retirement and you have 40 years until the planned retirement date. Each year, during your retirement years (assume 30 years), you would like to spend an amount equivalent to the purchasing power of $50,000 today. You estimate that the expected rate of return on some recommended investment portfolio is 8%AER and you plan to select that portfolio during the working (savings) years. Assume 4%AER yield on your investments during retirement years. The annual inflation rate is currently 2% and is expected to stay at that level forever. Assume you plan to increase the size of your annual deposits at the rate equal to the inflation rate? QQ: If you want to meet your goal and you agree with the assumptions, what is the size of your first savings/investment deposit ??