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I don't know what formula to use for this question. You placed $4,561 in a savings account today that earns an annual interest rate of

I don't know what formula to use for this question.

You placed $4,561 in a savings account today that earns an annual interest rate of 8.92 percent, compounded semiannually. How much will you have in this account at the end of 12 years? Assume that all interest received at the end of the period is reinvested the next period.

Round the answer to two decimal places.

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