To purchase a specialty guitar for his band, for the last year JJ Morrison has made payments of $80 at the end of each month into a savings account earning interest at 5.38% compounded monthly. If he...

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Extracted text: To purchase a specialty guitar for his band, for the last year JJ Morrison has made payments of $80 at the end of each month into a savings account earning interest at 5.38% compounded monthly. If he leaves the accumulated money in the savings account for another two years at 6.62% compounded quarterly, how much will he have saved to buy the guitar? ... The balance in the account willI be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)