John deposits $1,500 in a retirement account today and expects to earn an average return of 7.5 percent. How much additional income will John have if he invests for 45 years instead of just 40 years?

Select one:

a. $10,723.08

b. $11,790.90

c. $12,441.56

d. $13,590.93

e. $12,908.19