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To pay for his daughters wedding, David decides to borrow $8,000 from his bank for 5 years with a rate of 3.4% compounded quaterly. Determine

To pay for his daughters wedding, David decides to borrow $8,000 from his bank for 5 years with a rate of 3.4% compounded quaterly.

Determine the amount David would have to pay his bank on the day of maturity. Round your answer to the nearest cent.

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