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19 July, 15:54

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.

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  1. 19 July, 18:13
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    7000 (1.1) ^3

    1.331*7,000

    =9,317
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