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Ramon and Mia want to invest $4,972 at the end of this year into an investment account. They plan to invest 10.5% more next year,
Ramon and Mia want to invest $4,972 at the end of this year into an investment account. They plan to invest 10.5% more next year, and will continue to increase their contributions 10.5% from each year to the next. Assuming the annual investment rate of return is 3.5%, what will be the value of the investment at the end of 12 years? Round the answer to two decimals.
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