[Solution] In order to accumulate enough money for the down payment on a house, a couple deposits $434 per month into an account paying 6% compounded monthly.


Question: In order to accumulate enough money for the down payment on a house, a couple deposits $434 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 3 years.

Amount in account $ ?

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