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Norman Bates is planning for eventual retirement from the motel business. He plans to make quarterly deposits of $ 1 , 0 0 0 into

Norman Bates is planning for eventual retirement from the motel business. He plans to make quarterly deposits of $1,000 into an IRA that offers a guaranteed interest rate of 8 percent. Interest is compounded quarterly. How much will Norman have in his account when he retires in 15 years?
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