She is investigating several ways she can accumulate $1 million by the time she is 50 years old.

Naomi is a​ 20-year old college student with an assignment to write out her plans for retirement. She is investigating several ways she can accumulate​ $1 million by the time she is 50 years old. She is considering a​ long-term certificate of deposit​ (CD) that pays 3​%

annually

Answer part 1 to help her calculate how much money she will need to deposit each year to accumulate​ $1 million.

PART 1. Calculate the amount Naomi will need to deposit each year into the CD at 3​%

for 30 years to accumulate​ $1 million.

The deposit for the CD each year will be_____?______

​(Round to nearest cent as​ needed.)