Answer:
$20,285.51
Step-by-step explanation:
A = P + I where
P (principal) = $12,000.00
I (interest) = $8,285.51
A = Pe^(r*t)
A = 12,000.00(2.71828)^((0.075)*(7))
A = $20,285.51
e, also known as Euler's number, is a mathematical constant approximately equal to 2.71828
e here helps to show continously compounded interest
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