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Preferably no excel but at least explain the steps and formulas your'e using if you...

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Accounting

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Preferably no excel but at least explain the steps and formulas your'e using if you do use excel. Thank you

Melanie receives an annuity paying $1,000 at the end of each month for eight years. This is directly deposited to a fund paying interest at an annual effective rate of 7.18%. Interest is paid out at the end of each year to a fund with an annual yield of 4%. Both funds are liquidated at the end of ten years. Find the total amount of Melanie's liquidation from the two funds. (Round your answer to the nearest cent.)

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