2. A woman desires to have P400,000 in a savings account when she retires in 20 years. Because of the effects of inflation on spending power, she stipulates that her future "nest egg" will be equivalent to P400,000 in today's purchasing power. If the expected average inflation rate is 3% per year and the savings account earns 1.2% per year, what lump-sum amount of money should the woman deposit now in her savings account