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alex has decided to put away $11,687 in a bank account today, to save for his retirement. His deposit is expected to earn an 3%

alex has decided to put away $11,687 in a bank account today, to save for his retirement.

His deposit is expected to earn an 3% p.a. rate of return, compounded monthly.

How much will alex have accumulated at the end of 36 years, when he retires?

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