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Erik receives an eight - year annuity - immediate with monthly payments. The first payment is $ 4 0 0 and payments increase by $

Erik receives an eight-year annuity-immediate with monthly payments. The first payment is $400 and payments increase by $4 each month. The payments are deposited in an account earning interest at a nominal rate of 9% convertible monthly. What is the balance in the account at the end of the eight years? (Round your answer to the nearest cent.)

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