Answer:
C. y = 11000(1.086)^7
Explanation:
Given the following data;
Principal = $11,000
Interest rate = 8.6% = 8.6/100 = 0.086
Time = 7 years
To derive a mathematical expression, we would use the compound interest formula;
[tex] A = P(1 + \frac{r}{100})^{t}[/tex]
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
t is the number of years for the compound interest.
Substituting into the formula, we have;
[tex] A = 11000*(1 + \frac{8.6}{100})^{7 [/tex]
[tex] A = 11000*(1 + 0.086)^{7 [/tex]
[tex] A = 11000*(1.086)^{7 [/tex]
[tex] A = 11000*1.78 [/tex]
A = $19,580
