Sally opens a bank account with $500. The account accrues 5% interest compounded annually. How much money will she have in her account at the end of 4 years? (Use the formula A=P (1+rn) nt, where P = initial amount of money, r = interest rate, t = the number of years, and n = number of times the interest is compounded per year.) (Round to the nearest cent)
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