Question: Problem 6-25 Calculating Annuity Future Values [LO1] You are planning to make annual deposits of $3,960 into a retirement account that pays 8 percent interest

Problem 6-25 Calculating Annuity Future Values [LO1]

You are planning to make annual deposits of $3,960 into a retirement account that pays 8 percent interest compounded monthly. How large will your account balance be in 25 years? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

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