Question: This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems. You

This set of problems is designed to be calculated using theExcel or financial calculator.Do not use financial tables to calculate these problems.

You plan to buy a house in 8 years. You want to save money for a down payment on the new house. You are able to place $314 every month at the end of the month into a savings account at an annual rate of 9.15 percent, compounded monthly. How much money will be in the account after you made the last payment?

Round the answer to two decimal places.

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