Starting today, you plan to make contributions of $100 each month at the start of the month, into your retirement savings account. Your employer contributes an additional $0.50 for every dollar you contribute. If both you and your employer continue these contributions and you can earn a monthly rate of 0.75%, how much will you have in your retirement account 40 years from now?

Group of answer choices

$707,465

$19,592

$702,198