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You placed $1,960 in a savings account today that earns an annual interest rate of 7.23 percent, compounded semiannually. How much will you have in

You placed $1,960 in a savings account today that earns an annual interest rate of 7.23 percent, compounded semiannually. How much will you have in this account at the end of 40 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.

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