Question: A new engineer wants to save money for a down payment on a house. The initial deposit is $ 6 8 5 , and $

A new engineer wants to save money for a down payment on a house. The initial deposit is $685, and $375 is deposited at the end of each month. The saving account earns interest at an annual nominal rate of 6% with monthly compounding. How much is on deposit after 48 months?
$21157
$21,156.70
$20,156.70
$20,157

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