Again, sometimes the questions submitted are unclear......If you are taking a test or doing homework, you'll need to justify your answer by stating what the assumptions are
Assumption: the interest rate is 10.1% annually compounded MONTHLY Annual Deposit 8700
10.1% Annual = .84166667 MONTHLY
EFFECTIVE ANNUAL RATE would be (1.0084166667)^12 = 1.10580914922 Corresponding to a 10.580914922% APR
There are books with equations for different scenarios of cash flow analysis and there are calculators for calculating these equations but you MUST know how to use them
For the FUTURE Value (F) of a given ANNUAL payment (A) with discrete compounding (NOT CONTINOUS COMPOUNDING) F = A ( (1+i)^n - 1)/i ) Where n =33 i =.10581 in this problem
Substitute: F = 8700 ( ( (1.10581)^33) -1)/.10582 = $ 2,189,952.30
Engineering Economic analysis was one of the most useful courses I took in Electrical Engineering way back when. It will be VERY important to you in the future to understand the time value of money to be successful at money management/retirement/house buying/investing etc. Good Luck!!