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Can someone help me? compounding Interest You know that poying yourself by depositing money in a savings account is a prudent start to your retirement

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compounding Interest You know that poying yourself by depositing money in a savings account is a prudent start to your retirement plan. You determined that, based on your other obligations, you can-save 6,125,00 per year via an annual, single year-end deposit, You are 30 yearis old now, so your inoney will grow for the next 35 years until you tum 65 . You will open a savings account at the citibank branch near your home. Its savings accounts are paying 6% interest The foilowing table shows the future value factors for various periods and interest rates: What wirl be the value of this money in 35 years? (Note: Round to two decimal ploces.) You began savings at age 30 , If you had started five years earier, so that your funds would grow for yearhi, what would your nest ego be worth, assurming the same interest rote and annual savings ammount? (Note: found to two decimal piaces.) Suppose that a new bank in town offers g\% interest. How much would your yearly deposits be worth if you open a savings account there, sssuming that your funds are invested for 35 years and all other foctors remain the same? Complete the following table by entering relevant vahies. Then use the table of future value factors to caiculate the value or this hest egg. ( Wint: Aemember that the FVA factor is based on the new interest rate naw.) Camplete the following table by entering relevant values. Then use the table of future value factors to calculate the value of this nest c9g. (Hint: Remember that che FVA factor is based an the new interest rate now.) What will be the value of this money in 35 years? (Note: Round to two decimal places.) Again, if you had started your savings program five years earlier, what would your nest egg be worth, assuming that your funds were invested at this higher interest rate, the annual savings amount remains the same, and the funds are invested for years? (Note: Round to two decimal piaces.)

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