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Edgar accumulated $ 5 , 0 0 0 in credit card debt. If the interest rate is 2 0 % per year and he does

Edgar accumulated
$
5,000
in credit card debt. If the interest rate is
20
%
per year and he does not make any payments for
2
years, how much will he owe on this debt in
2
years with monthly compounding?
Round your answer to the nearest cent.
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