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Q.2. John stared a paper route on Jan. 1st 2000. Every three months, he deposits $250 in his bank account, which earns 8% annually but

Q.2. John stared a paper route on Jan. 1st 2000. Every three months, he deposits $250 in his bank account, which earns 8% annually but is compounded quarterly. On Dec. 31 2004 he used the entire balance in his bank account to invest in a certificate of deposit at 12% annually. How much will he have on Dec. 31 2007?

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