Question: Markus spends $60 per month on cigarettes. Suppose he quits smoking and invests the same amount at the end of each month for 20 years.

Markus spends $60 per month on cigarettes. Suppose he quits smoking and invests the same amount at the end of each month for 20 years. If the invested money earns 7.5% compounded monthly, how much will Markus accumulate after 20 years?

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