3. James plan to retire in 30 years. He has $15,000 to invest now and also plans to continue depositing $500 each month, begin at the end of this month. If he continue to invest $500 each month until he retires. How much would he have accumulated by the time he retires? Assume he can earn interest at an annual rate of 8% compounded monthly? (P4.26: \$4,774,754.73)