Question: Using excel formula please. You are planning to make annual deposits of $5,700 into a retirement account that pays 10 percent interest compounded monthly. If

Using excel formula please.

You are planning to make annual deposits of $5,700 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?

(Use cells A6 to B9 from the given information to complete this question. Your answer should be a positive value.)

Annual deposit	$5,700
Payments per year	12
APR	10%
Number of years	40

EAR	10.47% (=EFFECT(B8,B7))
Future value of annuity

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