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Gillian started a retirement account with $10,000 when she turned 35. The account compounds interest quarterly at a rate of 3.65%. She made no further
Gillian started a retirement account with $10,000 when she turned 35. The account compounds interest quarterly at a rate of 3.65%. She made no further deposits into the account. After 20 years, she decided to withdraw 40% of what had accumulated in the account so that she could make her home handicap accessible. She had to pay a 10% penalty on the early withdrawal. What was her penalty?
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