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Bob plans to invest 1000 dollars in a company each year. According to the program, new investment will have no return for the first year,
Bob plans to invest 1000 dollars in a company each year. According to the program, new investment will have no return for the first year, but starting from the second year, there will be a fixed annual return of 10%. Suppose that Bob will also reinvest all his annual returns in the same program. Then after 20 years, what would be the total value of Bob's assets in this company?
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