After graduation, you find that you have an excess of $4,750 left over from scholarships and internship earnings. Rather than spend the money on something nice for yourself, you decide to use this as the seed money for your retirement. You invest the money with an expected return of 8.4% in a qualified investment plan. You feel that you should be able to save $390 per month from your new job. Given monthly compounding and that your savings target of $390 remains the same, how much will you save by the time you plan to retire (assume a 40 year career as your investment horizon)? (Hint: You will be compounding monthly.) Select one: a. Less than $1,300,000 Ob. Between $1,300,000 and $1,400,000 c. Between $1,500,000 and $1,600,000 d. Between $1,600,000 and $1,700,000 e. Greater than $1,700,000