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Your bank pays an interest rate quoted as 3.0% per annum compounded semi-annually. You invest $1,000 into the bank now for a 5 year period.

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Your bank pays an interest rate quoted as 3.0% per annum compounded semi-annually. You invest $1,000 into the bank now for a 5 year period. What will your balance be after 5 years? (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Numeric Response

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