Robert, a 26-year old young adult is using the following information to plan his retirement;

Current Age: 26

Expected Retirement Age: 65

Life Expectancy: 95

Expected Inflation Rate of current expenditures until retirement: 2%

Interest Rate: (7%, 2)

Robert assumes that his yearly consumption expenditures will increase at a rate of 2%, the rate of inflation, until he retires. Upon retiring, Robert will have end-of-year expenditures equal to his consumption expenditure at age 65. What is the minimum amount Robert must accumulate by age 65 in order to fund his retirement?