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When a child is born, the parents receive gifts of $5000 which they invest at 6% interest. Each year they are fortunate to receive $1600

When a child is born, the parents receive gifts of $5000 which they invest at 6% interest. Each year they are fortunate to receive $1600 in gifts that they add to the investment.  When the child is 18, he is allowed to remove the money from the account.  How much is there?

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