Andy is planning for his retirement. He is currently 37 and plans to retire in 26 years, at age 62. He expects then to live an additional 35 years. He expects inflation to average 3% per year. He believes he can earn a nominal return on his retirement investments of 9% per year before retirement, and 6% per year after retirement. Based on his assumptions about investment returns, inflation and Social Security, and his desired Wage Replacement Rate, he believes he will need to accumulate $2,000,000 in nominal terms by the day of his retirement in order to produce enough income to achieve his retirement income goal. Use the Purchasing Power Preservation method with the Dalton approach.

What is the total amount he needs to accumulate in his retirement fund by the day he retires, in nominal dollars, based on the assumptions of the Purchasing Power Preservation model?