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

NEI not enough information to solve this problem because we would need to know how many years.