Your client is 25 years old, and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $7,500 per year, and you advise her to invest it in securities which you expect to provide an average annual return of 7 percent. If she follows your advice, how much money would she have at age 70?

a.$361,125

b.$2,293,138.22

c.$7,088,327.47

d.$2,143,119.83

e.157,518.39