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05-10-2022
Mathematics

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Claude has been saving for a down payment for the purchase of a French restaurant for 10 years. Monthly deposits of $500 are made into an annuity that earns 3.5% annual interest, compounded monthly. According to account documents, after these 10 years, there is a balance of $71,716.26 in the account. How much interest has the account earned? Round your answer to the nearest cent

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