You enter into an automatic savings plan with RBC where $1250 is deducted from your paycheck at the end of each quarter starting on March 31, 2014 (first payment) to December 31, 2019 (last payment). If the account pays 8% (APR, monthly compounded), how much money is in the account on December 31, 2019 (right after the last contribution)?

show all work please

step by step

do not use excel please

explain the question with words not just numbers

thanks in advance