An amount of $ 8,000 was invested at 6% interest that is compounded yearly. The equation a = 8000 (1.06) ^(t) represents the value A of the investment at time t years. Find the …

Question

An amount of $ 8,000 was invested at 6% interest that is compounded yearly. The equation


`a = 8000 (1.06) ^(t)`
represents the value A of the investment at time t years.
Find the worth of the investment when t= 7.
Round your answer to the nearest thousand. ​

Answer 1

The answer is 12000 roundes to the neatest thousand

Explanation:

In your calculator just substitute 7 into t

8000 ×1.06 to the power of 7