2:54 a ilearn.mq.edu.au III MACQUARIE BUSINESS SCHOOL Assume that you are 30 years old today, and that you are planning on retirement at age 65. Your current salary is $45,000 and you expect your salary to increase at a rate of 5% per year as long as you work. To save for your retirement, you plan on making annual contributions to a retirement account. Your first contribution will be made on your 31st birthday and will be 8% of this year's salary. Likewise, you expect to deposit 8% of your salary each year until you reach age 65. Assume that the rate of interest is 7%. The future value at retirement (age 65) of your savings is: Select one: O A. $728,895 B. $928,895 C. $828,895 O D. $87,003 Question 2 Not yet saved Marked out of 1.00 P Flag question Consider the following information R + 28