Your goal is to accumulate $1,000,000 for retirement. Your plan is to retire in 50 years. In 40 years, you will be 70 years old. How much will you have to invest at the end of the year for 50 years to reach your goal if your investments grow at 3% per year compounded annually? The answer is between $8,850 and $8,870 per year. True or False?