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Answer :
Zeke will have approximately $7,604.55 at the end of 7 years.
We can use the formula for compound interest to calculate how much Zeke will have at the end of 7 years:
A = P*(1 + r/n)^(n*t)
where:
A = the amount Zeke will have at the end of 7 years
P = the initial investment of $5,000
r = the annual interest rate of 6%
n = the number of times the interest is compounded per year, which is 4 since the interest is compounded quarterly
t = the number of years, which is 7
Plugging in the values, we get:
A = 5,000*(1 + 0.06/4)^(47)
A = 5,000(1 + 0.015)^28
A = 5,000*(1.015)^28
A = 5,000*1.5209
Therefore, Zeke will have approximately $7,604.55 at the end of 7 years.
Read more about compound interest at
brainly.com/question/13825593
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