A credit union client deposits $1240 in an account earning 10%annual interest, compounded quarterly. What will be the balance at the end of 12 years? Use the formula A=P(1+r/n)^nt where A is the account balance, P is the principal originally invested, r is the interest rate as a decimal and, n is the total number of periods. (Show your work and round to 2 decimal places, in cents)