Question: Use the formula for computing future value using compound interest to determine the value of an account at the end of 6 years if a

Use the formula for computing future value using compound interest to determine the value of an account at the end of 6 years if a principal amount of $7,000 is deposited in an account at an annual interest rate of 5% and the interest is compounded quarterly.

The amount after 6 years will be $ answer?

(Round to the nearest cent as needed.)

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