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6. The local bank pays 4% interest on savings deposits. In a nearby town, the bank pays 1% per quarter. A man who has

6. The local bank pays 4% interest on savings deposits. In a nearby town, the bank pays 1% per quarter. A man who has $3000 to deposit wonders whether the higher interest paid in the nearby town justifies driving there. If all money is left in the account for years, how much interest would he obtain from the out-of-town bank?

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