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Kyle invests $5,000 today at a 6% rate of return, which is compounded annually. What is the future value of this investment after 7 years?

Kyle invests $5,000 today at a 6% rate of return, which is compounded annually. What is the future value of this investment after 7 years?

a

$7,518.15

b

$9,118.92

c

$11,312.38

d

$13,934.71

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