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Bertha and Martha are recent college graduates currently earning $ 8 5 , 0 0 0 a year and planning to retire in 4 0

Bertha and Martha are recent college graduates currently earning $85,000 a year and planning to retire in 40 years. Their earnings are expected to increase at a 6.5% annual rate, Martha has a 401-k tax-advantaged retirement account. She contributes a flat amount of $1,100 per month to her account during the first eight years, and then lets the funds compound for the next 32 years. How much would Martha's account hold at retirement if she earned an annual rat of 11% monthly compounded?
$5,347,918
$5,597,983
$5,590,500
$5,425,537
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