Starting today, you are going to contribute $250 on the first of each month to your retirement account. Your employer will contribute an additional 50% of the amount you contribute. If both you and your employer continue to this and you can earn an effective monthly rate of 0.72%, how much will you have in your retirement account 40 years from now?

Question 21 options:

$1,589,487

$1,629,224

$1,668,961

$1,708,699

$1,748,436