Mrs. Browne wants to start a college fund for her newest addition, Wade. She makes a payment of $50 at the end of each month

Question

Mrs. Browne wants to start a college fund for her newest addition, Wade. She makes a payment of $50 at the end of each month into an ordinary annuity account paying a 3.5% annual interest rate, compounded monthly. How much will be in the account after 18 years and Wade is ready to go to college?

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