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This set of problems is designed to be calculated using the Excel or financial calculator.

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This set of problems is designed to be calculated using the Excel or financial calculator.
Do not use financial tables to calculate these problems.

You have decided to place $137 in equal deposits every month at the beginning of the month into a savings account earning 4.56 percent per year, compounded monthly for the next 8 years. The first deposit is made today. How much money will be in the account at the end of that time period?

Round the answer to two decimal places.

Your Answer:

 
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