You are saving for retirement. To live​ comfortably, you decide you will need to save $3 million by the time you are 65. Today is your 20th birthday, and you​ decide, starting today and continuing on every birthday up to and including your 65th ​birthday, that you will put the same amount into a savings account. If the interest rate is 10%​, how much must you set aside each year to make sure that you will have $3 million in the account on your 65th ​birthday?\The amount to deposit each year is ​$______(Round to the nearest​ dollar.)

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A: Present Value = pv = $1,150,000Annuity = pmt = $68,000Time = nper = 25 Years

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Q: amount to the plan at the end of every year that you work. How much do you need to contribute each…

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A: THANK YOU

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A: Here,

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A:

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Q: How much do you need to contribute each year to fund your retirement?

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