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Alan Thurston places the lump sum amount of $ 1 2 0 0 today in an account for his just born granddaughter with the stipulation

Alan Thurston places the lump sum amount of $1200 today in an account for his just born
granddaughter with the stipulation that she cannot spend the money for 21 years. The
account provides an interest rate of 3.90% per year, compounded annually, over the life of
the investment. Calculate to the nearest dollar the value of the account at the end of year 21.
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