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

Boogie asked Sep 26, 2023

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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.

Boogie asked Sep 26, 2023

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9 votes

Answer:

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

Ankur Bavishi answered Sep 30, 2023

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