You want to accumulate $1 million by your retirement date, which
is 25 years from now. You will make 25 deposits in your bank, with
the first occurring today. The bank pays 8% interest, compounded
annually. You expect to receive annual raises of 3%, which will
offset inflation, and you will let the amount you deposit each year
also grow by 3% (i.e., your second deposit will be 3% greater than
your first, the third will be 3% greater than...