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Assume that you deposit $1,000 in a bank CD that promises a fixed APR of 4.31% per year, compounded annually, for 8 years. What will

Assume that you deposit $1,000 in a bank CD that promises a fixed APR of 4.31% per year, compounded annually, for 8 years.

What will the balance in your account be at the end of this holding period?

Enter your answer in dollars and cents; round to the penny.

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