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Lauren plans to deposit $4000 into a bank account at the beginning of next month and $200 /month into the same account at the end
Lauren plans to deposit$4000into a bank account at the beginning of next month and$200/month into the same account at the end of that month and at the end of each subsequent month for the next7years. If her bank pays interest at a rate of5%/year compounded monthly, how much will Lauren have in her account at the end of7years? (Assume she makes no withdrawals during the7-year period. Round your answer to the nearest cent.)
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