(Answered) Question erik receives an eight-year annuity-immediate with

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Question: Erik receives an eight-year annuity-immediate with monthly payments. The first payment is $300 and payments increase by $6 each month. The payments are deposited in an account earning interest at a nominal rate of 6% convertible monthly. What is the balance in the account at the end of the eight years? The answer is 69,042.81 but I need to understand how to get there using formulas.

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