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You are planning to make monthly deposits of $420 into a retirement account that pays 8 percent interest compounded monthly. If your first deposit will

You are planning to make monthly deposits of $420 into a retirement account that pays 8 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 25 years? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

Future value

$

please explain

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