Question: Monarch Distributing Ltd. plans to accumulate funds for the purchase of a larger warehouse seven years from now. If Monarch contributes $10,000 at the beginning

Monarch Distributing Ltd. plans to accumulate funds for the purchase of a larger warehouse seven years from now. If Monarch contributes $10,000 at the beginning of each month to an investment account earning 4.5% compounded semiannually, what amount (rounded to the nearest dollar) will Monarch accumulate by the end of the seven years?

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