Question: Chaim has won $5000 and wants to save it towards buying a house in six years when he finishes his law degree. He has

Chaim has won $5000 and wants to save it towards buying a house in six years when he finishes his law degree. He has the choice between an account which compounds daily with an APR of 7%, and another account which also has a 7% APR but compounds quarterly. How much will he have in 6 years with the second option? (round to 2 decimal places)

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