An investor wants to save money to purchase real estate. She buys an annuity with monthly payments that earn 5.5% interest, compounded monthly. Payments will be made at the end of each month. Find the total value of the annuity in 18 years if each monthly payment is $64. Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. E X 5

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A: Recall the following fact.

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