Calculate the future value of an account after you've contributed $1,280 at the end of each year for 40 years assuming you can earn 6.50 percent compounded annually, and that you don't make a withdrawal during the 40-year period. Now calculate the value of the same account if you stop making contributions after 30 years. What does this tell you about the power of time when trying to accumulate wealth? Click on the table icon to view the FVIFA table . Click on the table icon to view the FVIF table After you've contributed $1,280 at the end of each year for 40 years assuming you can earn 6.50 percent compounded annually, and that you don't make a withdrawal during the 40-year period, the value of this account at the end of 40 years would be $ (Round to the nearest cent.) If you stop making contributions after 30 years, the value of this account at the end of 40 years would be $ . (Round to the nearest cent.) What does this tell you about the power of time when trying to accumulate wealth? (Select the best answer below.) O A. The 40-year annuity would accumulate about $224,808.85, while contributing for only 30 years would accumulate about $207,536.00. In the second scenario, you would have contributed $12,800 less, but at the end of the 40-year period, you would have accumulated about $17.272.85 less. The power of compounding over time allowed you to build almost as much wealth as the individual who invested continually over the 40 years. d SS Click to select your answer(s). I WUUU USULIT a biyimicany greater ulterence at the end UIH 40 years. On m OB. The 40-year annuity would accumulate about $224,808.85r while contributing for only 30 years would accumulate about $207,536.00. In the second scenario, you would have contributed $12,800 less, but at the end of the 40-year period, you would have accumulated about $114,249.02 less. The power of compounding over time allowed you to build much more wealth over 40 years than an individual who invested annually for only 30 years. Reversing the scenario and reducing the effects of the power of compounding over time would yield different results. In other words, failing to start investing until later in the time cycle would result in a significantly smaller difference at the end of the 40 years. Send Click to select your answere