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Answer is $36,589-10 years $117,804-20 years $698,202- 40 years Please explain how to get these numbers- thank you in advance 6) Future value of an

Answer is
$36,589-10 years
$117,804-20 years
$698,202- 40 years
Please explain how to get these numbers-
thank you in advance
image text in transcribed
6) Future value of an annuity. Starting at the end of the month, you plan to make monthly deposits of $200 into an index fund that you expect to earn 8%, on average, with monthly compounding. How much will this investment be worth in 10 years? 20 years? 40 years

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