John is 25 years old and wants to have 1 million dollars in

Last updated: 7/6/2022

John is 25 years old and wants to have 1 million dollars in savings by the time he retires at 65. He plans to open a savings account that pays 6% interest compounded quarterly and he will be making $150 quarterly deposits into the account. John will need to make an initial deposit of $__________ to reach his goal of 1 million dollars in