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Dax Collins just received $10,000,000 from winning the lottery. He has decided to spend $1,000,000 immediately and to invest the remaining $9,000,000 for 10 years.

Dax Collins just received $10,000,000 from winning the lottery. He has decided to spend $1,000,000 immediately and to invest the remaining $9,000,000 for 10 years. If he can get a 12 percent interest rate compounded quarterly, how much will he have at the end of 10 years?

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