Question: Suppose you start saving for retirement when you are 31 years old. You invest $5,000 the first year and increase this amount by 4% each

Suppose you start saving for retirement when you are 31 years old. You invest $5,000 the first year and increase this amount by 4% each year to match inflation for a total of 25 years. The interest rate is 8% per year. 1. How much will you have in account immediately after making the last deposit at age 55 . O A. $76,343 O B. $1,189,289 O C. $522,830 O D. $485,795 2. How much will you have, if the interest rate was only 4% per year (instead of 8%)? O A. $333,230 O B. $120,192 O C. $320,413 O D. $291,459

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