show all work, no excel

Your bank account pays monthly interest with an APR of 8% with monthly compounding. You are planning to buy a house in 6 years, and you wish to save $40,000 for the down payment. If you currently have no money in your account, how much will you need to save at the end of each month? $555.56 $451.18 $438.53 $434.66 $500.34