Problemyou plan to buy a house in 6 years you want to save, Ask an Expert

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You plan to buy a house in 6 years. You want to save money for a down payment on the new house. You are able to place $256 every month at the end of the months into a savings account at an annual rate 6.67% compounded monthly. How much money will be in the account after you made the last payment? Please provide all computation and formulas.

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