Each month into a savings account paying interest at rate

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The Pirerras are planning to go to Europe 4 years from now and have agreed to set aside $170/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 5%/year compounded monthly, how much money will be in their travel fund at the end of the fourth year? (Round your answer to the nearest cent.)

Reference no: EM13947197

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