Jack is 19 years old and studying Economics at UNSW. He plans to start working in 3 years' time at which point he will begin depositing $10,000 per year in a savings account that pays interest of 10% per annum, compounded annually. The first deposit will be made immediately when he starts working. He is committed to depositing the same amount every year until he turns 65. The last deposit is made at age 65. Jack plans to retire at age 67. How much money will Jack have in his account when he retires, assuming no withdrawals are made until he turns 67 ?