To purchase a specialty guitar for his band, for the last

two years

JJ Morrison has made payments of

$102

at the end of each month into a savings account earning interest at

4.78%

compounded monthly. If he leaves the accumulated money in the savings account for another

three years

at

5.54%

compounded quarterly, how much will he have saved to buy the guitar?

Question content area bottom

Part 1

The balance in the account will be

$enter your response here.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)