Your friend, Eddy, plans to retire in exactly 20 years time and expects to live for 12 years after retirement. To do this, Eddy plans to save $15,000 every year for the next 20 years and put this money into a term deposit account starting at the beginning of the savings period and which pays 4% p.a. (compounded annually). REQUIRED: How much money will Eddy have in the account when he retires in 20 years' time?