A group of friends is planning to go to Europe 3 years from now and have agreed to set aside $150 each month for their trip. If

Question

A group of friends is planning to go to Europe 3 years from now and have agreed to set aside $150 each month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 6% per year compounded monthly, how much money will be in their travel fund at the end of the third year?

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