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Your are going to invest $19,850 for 16 years. You checked with two banks to see what their current annual interest rate is. The first

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Your are going to invest $19,850 for 16 years. You checked with two banks to see what their current annual interest rate is. The first bank reported an annual interest rate on deposits of 6.9 percent and the second bank reported an annual interest rate on deposits of 2.5 percent. How much additional money will you have at the end of your investment if you invest in the first bank instead of the second bank? (Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in the box below.)

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