Based on your calculations above, explain in your own words the impact of compounding interest.

Dul0u tor Wlthdrawals each of y the e period from the account over the Enter your answers in the indicated cells of the table be below Annual Interest Interest Compounded 5 Rate 2.00% | Annually e end of Year FV at the end of Year FV at the end of Year 30 10 Answer:46,113.62 nswe Answer: $12,189 ay r:# i.cv0.Bi 18,193.97 2.00% | Quarterly 8.00% | Annually 8.00% | nswer: 11,0 il,ote. 76 | Answer: ? 12,207, qy | Answer: 21,68925 | Answer: Aloo,626.57 nswer: Quarterly Answer , 7 Answer 22,00o Answer 107,451.3 Based on your calculations above, explain in your own words the impact of compounding interest.