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You have just received an inheritance of $1,200. If you deposit the $1,200 into a savings account that earns an interest rate of 11%, compounded

You have just received an inheritance of $1,200. If you deposit the $1,200 into a savings account that earns an interest rate of 11%, compounded annually, how much will you have in the savings account after 5 years?

Enter your response below rounded to 2 decimal places.

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