If you would decide to start saving for your own retirement fund, assume you start at the age of 22 and invest $8,000 per year for the next 48 years until you reach the age of 70, and if you assume that you could earn 5% on those investments over the next 48 years, how much could you have available to yourself as a retirement fund at age 70?

A. $1,317,579

B. $1,504,203

C. $2,308,042

D. $144,617