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An annuity pays $125 at the end of each quarter for 4 years. The payments are made directly to a savings account with a nominal

An annuity pays $125 at the end of each quarter for 4 years. The payments are made directly to a savings account with a nominal interest rate of 7.5% compounded monthly, and they are left in the account. Find the balance in the savings account immediately after the last payment. Answer to the nearest cent.

The answer is 2309.53, and I want to how to get that. Thanks a lot.

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