After consulting with your financial advisor, you figured that you need to invest $20,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 5% and depositing $20,000 at the end of every year in your retirement account, how much will you have after 40 years?

Please show your work.

a. $140,800

c. $2,536,765

d. $2,217,830

b. $2,415,995