You are planning to make monthly deposits of $475 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 40 years?

You are planning to make monthly deposits of $475 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 40 years? Input area: Monthly deposit Payments per year APR Number of years $475 12 10% 40 (Use cells A6 to B9 from the given information to complete this question. Your answer should be a positive value.) Output area: Future value of annuity Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area will be graded, but it will be submitted with your assignment. \begin{tabular}{|l|l|l|l||||||} \hline Nothing in this area will be graded, but it will be submitted with your assignment. \\ \hline \\ \hline \end{tabular}