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5500\left(1+0.075\right)^{2}
Anything divided by one gives itself.
5500\times 1.075^{2}
Add 1 and 0.075 to get 1.075.
5500\times 1.155625
Calculate 1.075 to the power of 2 and get 1.155625.
6355.9375
Multiply 5500 and 1.155625 to get 6355.9375.