How did they get that answer?

You enter into an automatic savings plan with RBC where $750 is deducted from your paycheck at the end of each quarter starting on March 31, 2013 (first payment) to December 31, 2018 (last payment). If the account pays 8% (APR, monthly compounded), how much money is in the account on December 31, 2018 (right after the last contribution)? 8% 12 EMR : 0.666667% Effective Quarterly Rate EQR Fv750 (1 + 0.00666667)3-1 2.01 336% 0.0201 336 x [(1 + 0.0201336)24-11-$22,853.64