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Use the compound interest formula to determine the accumulated balance after the stated period. $3000 invested at an APR of 8% for 6 years.

Use the compound interest formula to determine the accumulated balance after the stated period. $3000 invested at an APR of 8% for 6 years. If interest is compounded annually, what is the amount of money after 6 years? $ (Do not round until the final answer. Then round to the nearest cent as needed.)

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