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Answer:
Step-by-step explanation:
Use the formula
[tex]A(t)=P(1+r)^t[/tex] where P is the initial investment, r is the interest rate in decimal form, and t is the time in years. Filling in what we are given:
[tex]A(t)=5000(1+.05)^6[/tex] and simplifying a bit:
[tex]A(t)=5000(1.05)^6[/tex] and a bit more:
A(t) = 5000(1.340095641) so
A(t) = 6700.48