Suppose you love mocha lattes, which costs $46 at your favorite specialty coffee shop. Assume that a month has 30 days and that you buy a cup every morning on your way to school. After learning about the importance of saving for your various goals, you decide to quit the habit and start saving money in an investment account. Assume that the money saved during a month is invested at the end of the month. The investment account earns an effective annual rate of 7.03%.

How much would this account have after 34 years?