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Suppose that $2000 is loaned at a rate of 10.5%, compounded monthly. Assuming that no payments are made, find the amount owed after 7 years.

Suppose that $2000 is loaned at a rate of 10.5%, compounded monthly. Assuming that no payments are made, find the amount owed after 7 years. Do not round any intermediate computations, and round your answer to the nearest cent. X

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