Question 1148463
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In a year with 7% annual interest, the value of an investment grows by a factor of 1+.07 = 1.07.<br>
In t years the value grows by a factor of (1.07)^t.<br>
You want the value of initial amount x to be $23,000 after 6 years:<br>
{{{x(1.07)^6 = 23000}}}
{{{x = 23000/(1.07)^6}}}<br>
Use a calculator....<br>