Linda is saving for retirement and would like to accumulate $1,000,000 at her retirement. She currently has $50,000 saved and would like to work for another 28 years. She plans to save $4500 at the end of each year over the next 28 years. What rate of return must she earn on her investments over the next 28 years?

a. 7.24%

b. 10.95%

c. 8.70%

d. 13.98%

e. There is no rate of return that would make this work