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Assume you just opened a savings account that pays an annual interest rate of 2.5%. A year from now, you plan to make an initial

Assume you just opened a savings account that pays an annual interest rate of 2.5%. A year from now, you plan to make an initial deposit in the amount of $12,000. You also plan to continue depositing this same amount for another 6 years after the initial deposit. If no withdrawals or other deposits are made to the account, what will be the account balance 7 years from now?

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