You are to make monthly deposits of $425 into a retirement account that pays 10.6 percent interest compounded monthly.

Required:

If your first deposit will be made one month from now, how large will your retirement account be in 31 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Retirement account value in 31 years

$