You have just turned 20 years old and landed a secure full-time job after graduating from Toronto Metropolitan University. You plan on saving $2,000 per year in a stock market account, starting in a year, until your planned retirement at 65. Alternatively, you anticipate your salary to increase by 4% annually so you intend on increasing your savings by 4% each year with the first saving being $2,000. How much more money would you earn by the time you retire if you increase your savings each year by 4% versus simply investing $2,000 per year in the same time period? Assume your annual rate of return is 8%.

Question options:

	$530,952
	$575,224
	$773,011
	$621,964
	$450,000