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You deposit 500 in an account on January 1, 2003. Interest is credited each year on December 31 , at a rate of 4% on

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You deposit 500 in an account on January 1, 2003. Interest is credited each year on December 31 , at a rate of 4% on the first 1000 in the account on January 1 of that year and 5\% of any excess over 1000 . Just after interest is credited on December 31,2032,X is in the account. Calculate X

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