Megan is 45 years old and would like to retire by the age of 65. Her portfolio manager gives her two investment options. Option 1 is a retirement fund that expects to earn 8% interest compounded annually. Megan would need to make a $5,000 initial deposit plus additional $500 deposits each month into the fund. Option 2 is a retirement fund that expects to earn 7.5% interest compounded annually. Megan would need to make a $10,000 initial deposit plus additional $500 deposits each month. Which retirement fund will produce a larger balance upon her retirement? a. Option 1 has the larger balance of $307,804.32. b. Option 2 has the larger balance of $307,804.32. c. Option 2 has the larger balance of $311,121.57. d. Option 1 has the larger balance of $311,121.57.