Ron Klain just turned 30 today. His salary next year will be $40,000. Ron forecasts that his salary will increase at a steady rate of 5% per year until he retires at age 60. If Ron saves 5% of his salary each year and invests these savings at an interest rate of 6%, how much will he have saved by age 60? Select one: O a. $844,215 O b. $382,714 O c. $412,280 d. $284,310