3. How much money will you have in your retirement account if you contribute $5,000 each year for the next 40 years starting next year? Assume you can earn an annual return of 8% and make no withdrawals so interest earned previously continues to earn interest. (Hint: This is an example of the future value of an annuity where FV = (c / r) x ((1+r)t -1) where c is the annual contribution, r = the annual return or interest rate and t is the number of contributions.) a. $1.186 million b. $1.295 million c. $1.337 million