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You have just deposited $4,500 in an unusual bank account that pays interest biannually (once every 2 years). If the 2-year interest rate is 10%
You have just deposited $4,500 in an unusual bank account that pays interest biannually (once every 2 years). If the 2-year interest rate is 10% (total interest over 2 years is 10%, not 10% per year), how much will you have in the account after 14 years?
After 14 years, the amount you will have in the account is
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