To purchase a specialty guitar for his​ band, for the last three years JJ Morrison has made payments of ​$118 at the end

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answerhappygod
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To purchase a specialty guitar for his​ band, for the last three years JJ Morrison has made payments of ​$118 at the end

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To purchase a specialty guitar for his​ band, for the last three
years JJ Morrison has made payments of ​$118 at the end of each
month into a savings account earning interest at 5.97​% compounded
monthly. If he leaves the accumulated money in the savings account
for another four years at 6.11​% compounded​ quarterly, how much
will he have saved to buy the​ guitar?
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