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5. An investing group has $50,000 to invest. They put the money in an account that has an annual interest rate of 6%, compounded monthly.

5. An investing group has $50,000 to invest. They put the money in an account that has an annual interest rate of 6%, compounded monthly. How much money will the group have at the end of 10 years?

What will be the amount of money they will have?

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