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This is an example of exponential growth (it is can also be considered a first order differential equation). Have you studied financial math a little bit? Then it would probably help if I told you to think of it like Principle and interest compounded annually. If not you can model the situation like this: \[Initial \times 1.07^t\] Where t is amount of years passed. Note that this only works for annually compounded numbers....so if you have a similar question, you need to modify it.
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