Compounding Interest You know that paying 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 $6,875.00 per year via an annual, single year-end deposit. You are 40 years old now, so your money will grow for the next 25 years until you turn 65. You will open a savings account at the US Bank branch near your home. Its savings accounts are paying 6% interest. The following table shows the future value factors for various periods and interest rates: Future Value of an Annuity Factor Year 2% 3% 5% 6% 8% 9% 10% 10 10.950 11.460 12.578 13.180 14.487 15.190 15.937 12 13.412 14.190 15.917 15 17.293 18.600 21.578 20 24.297 26.870 33.066 25 32.030 30 36.460 47.726 40.567 47.570 66.438- 23.270 36.780 54.860 16.870 18.977 20.140 27.152 29.360 21.384 31.772 45.762 51.160 57.274 73.105 84.700 98.346 79.060 35 113.282 136.300 164.491 49.994 60.460 90.318 111.430 172.314 215.700 271.018 40 60.401 75.400 120.797 154.760 259.052 337.870 442.580 Complete the following table by entering relevant values. Then use the table of future value factors to calculate the value of this nest egg. Annual savings Years over which it will grow S Interest rate