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16. George's nephew will be graduating high school in 6 years and he'd like to give him a gift towards his college education. He deposits

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16. George's nephew will be graduating high school in 6 years and he'd like to give him a gift towards his college education. He deposits $280 each month in an account that pays 4% per year compounded monthly. How much will be in this account in 6 years when his nephew graduates high school

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