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You open a savings account on Jan 1, 2008, with a $1000. The interest rate stated on this account is 4%, compounded quarterly. What will

You open a savings account on Jan 1, 2008, with a $1000. The interest rate stated on this account is 4%, compounded quarterly. What will your savings account be worth on December 31, 2012, assuming you made no deposits or withdrawals from the account?

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