An engineer, is planning for a 15 years long vacation. In order to supplement his/her expenses and offset the anticipated effects of inflation, he/she intends to withdraw $5000 at the end of the first...

An engineer, is planning for a 15 years long vacation. In order to supplement his/her expenses and offset the anticipated effects of inflation, he/she intends to withdraw $5000 at the end of the first year, and to increase the withdrawal by $1000 at the end of each successive year. How much money must the engineer have in his/her savings account at the start of his/her retirement, if money earns 6% per year, compounded annually?