Question: Not using excel, show the work and answer for Elizabeth puts $50 into a back account at the end of each month starting July 31,

Not using excel, show the work and answer for

Elizabeth puts $50 into a back account at the end of each month starting July 31, 2023. The account earns interest at a nominal annual rate of 6% compounded monthly, with interest paid into the account on the last day of each month. What will the account balance be on December 31, 2025?

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