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1. Hope Dearborn invests $40,000 on January 1, 2019, in a savings account that earns interest of 8% compounded semiannually. What will be the amount

1. Hope Dearborn invests $40,000 on January 1, 2019, in a savings account that earns interest of 8% compounded semiannually. What will be the amount in the fund on December 31, 2024? Round your answer to two decimal places. LA $

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