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You placed $6,397 in a savings account today that earns an annual interest rate of 7 percent compounded annually. How much will you have in

You placed $6,397 in a savings account today that earns an annual interest rate of 7 percent compounded annually. How much will you have in the account at the end of 26 years. Assume that the interest received at the end of the year is reinvested to the next year.

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