Adam is planning for his retirement. Starting January 2022, he will deposit $500 to a pension account at the end of the month for the first 9 months of the year (i.e., 9 monthly deposits from January to September, no deposit for Oct, Nov. and Dec.). He will continue this contribution pattern for totally 20 years (2022 2041). How much will be accumulated at the end of 2041 (Dec. 31, 2041). Assuming the pension fund guarantees an annual interest rate of 12%, compounded monthly. (Note: funds will continue gain interests in Oct., Nov. and Dec. when there is no deposit!) $347,700.