Question

Three years ago, Andy invested $7,000 in an account that earns 10% interest compounded annually. The equation y = 7,000(1.10)t describes the balance in the account, where t is time in years. Andy made no additional deposits and no withdrawals. How much is in Andy’s account at this time? Round to the nearest dollar

Answer 1

Well, we just have to put in the numbers and solve the equation
We have:
y = 7,000(1.10)t
and we know that t = 3, because it said in the question that he invested 3 years ago.
See if you can lug in the numbers and solve the equation.

Answer 2

plug in the numbers*

Answer 3

thnx!