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Your parents are scheduled to receive $18,500 in three years as a retirement bonus. When they receive the bonus, they have decided to reinvest it

Your parents are scheduled to receive $18,500 in three years as a retirement bonus. When they receive the bonus, they have decided to reinvest it for nine more years at an annual rate of 9.25 percent.

How much will the bonus be worth in twelve years time? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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