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Lynn Ally, owner of a local Subway shop, loaned $64,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn

Lynn Ally, owner of a local Subway shop, loaned $64,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 7 years with 8% interest compounded semiannually.

How much will Lynn receive at the end of 7 years? (Do not round intermediate calculations. Round your answer to the nearest cent.)

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