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Joe bought 20 acres of land for $1,500 per acre 20 years ago. If this land grew in value at an annual interest rate of

Joe bought 20 acres of land for $1,500 per acre 20 years ago. If this land grew in value at an annual interest rate of 8%, what is it worth today?

A. 294,544.42

B. 6,436.45

C. 139,828.71

D. 6,991.44

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