An individual invests $6000 per year for 40 years into a Roth IRA and selects to have the money invested in a S&P500 Index Fund. After fees, they earn 8% annual return. What will the approximate balance of the account be after 40 years? O 1) $1.55 million 2) $260,000 3) $1.25 million 4) $2.50 million