Homework #3B (FV and PV of annuity non-annually)

Homework #3B (FV and PV of annuity non-annually)

Finance

Question 3 (1 point)

 

You plan to buy a house in 14 years. You want to save money for a down payment on the new house. You are able to place $393 every month at the end of the month into a savings account at an annual rate of 4.94 percent, compounded monthly. How much money will be in the account after you made the last payment? 

Round the answer to two decimal places.

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