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You are considering investing $5,000 in a bank term deposit for 3 years. The term deposit will pay a semi-annual interest of 4% (compounded semi-annually).

You are considering investing $5,000 in a bank term deposit for 3 years. The term deposit will pay a semi-annual interest of 4% (compounded semi-annually). What is the value of the deposit at the end of year 3?

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