## Each year a salesperson is paid a bonus of $2000 which is banked into the same account. It earns a fixed rate of interest of 6% p.a. with interest being paid annually. The total amount in the account at the end of each year is calculated as follows: A0 = 2000 A1 = A0 x 1.06 + 2000 A2 = A1 x 1.06 + 2000 and so on. Find the total bank balance after 10 years, assuming there are no fees or charges.

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