Mr. Rodriguez has been saving 12% of his salary of $45,000 for retirement over the past 15 years. Initially, he planned to invest all of his money in medium-risk stock mutual funds which have an annual, inflation-adjusted, return of 10%. Mr. Rodriguez wants to have $1.5 million saved up the day he retires. If he has 20 years left until retirement, is he on track? Show your work below.