Complete A-E for question 1 with explanations and shown work

Calculate the future value of contributing to your retirement account. You plan to start by contributing $3,000 today. Each successive year you plan to contribute 4% more than the previous year. You plan to invest your money in a broad diversified portfolio of stocks. (20 points) 1. How much do you expect your account will be worth in 40 years? How much investment income did you earn in the 1st year versus the 40th year? What rate did you use to make the calculation? Why did you choose the rate? Where did you find the rate? a. b. c. d. e