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Determine the value of nathan''s account 10 years

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Nathan invests $1000 into an account earning interest at an annual rate of 4.2%, compounded annually. 4 years later, he finds a better investment opportunity. At that time, he withdraws his money and then deposits it into an account earning interest at an annual rate of 6.8%, compounded annually. Determine the value of Nathan's account 10 years after his initial investment of $1000.

Round your answer to two decimal places.

Reference no: EM132466904

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