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You have saved $25,440.00 for a three-year vacation to Germany. You will keep your money invested in an account paying 8.40% APR with monthly compounding

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You have saved $25,440.00 for a three-year vacation to Germany. You will keep your money invested in an account paying 8.40% APR with monthly compounding while you live in Munich. You will make your withdrawals at the beginning of the month. What is the balance on the account after the first month? (This is the balance prior to the withdrawal for the second month) Answer Format: Currency: Round to: 2 decimal places

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