Bertha and Martha are twins, and just graduated from college. They plan to retire in 40 years. To that end, each has a 401-k tax-advantaged retirement account. Martha contributes $1,000 per month only for the first five years. Bertha does not contribute during the first 20 years but contributes $2,500 per month during the last 20 years.

14) How much would Marthas account hold at retirement if she earned an annual rate of 11.5%?

A) $3,347,918.85

B) $1,940,849.36

C) $2,999,789.12

*D) $4,425,537.6. First compute the FV of the 60-month annuity and then compound the lump-sum for the next 420 months. Use a periodic rate. 15)

15) How much would Berthas account hold at retirement if she also earned an annual rate of 11.5%?

A) $3,350,918.25

*B) $2,312,752.65

C) $1,978,400.10

D) $2,711,542.16.

Please show the work step by step through financial calculator.