Compounded monthly for the next 8 years

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Was given he answer of 42,980.81 but don't know how to figure this out on my own. Can someone please explain it to me?

You have decided to place $287 in equal deposits every month at the beginning of the month into a savings account earning 10.35 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?

Reference no: EM132467127

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