Xiang wishes to have $1 million in 30 years. He cannot afford to make large deposits at the moment; however, he believes that he will be able to increase his deposits by 3 percent per year for the next 30 years. He will make his first deposit in one year. If his opportunity cost is 5 percent, how large an initial deposit is needed? If instead of increasing his deposit each year, Xiang invested the same amount each year, how large a deposit would he need to make each year?