The function y=7500(1.08)t represents the value y of an investment after t years. what is the value of the investment after 6 years?

The answer is 48600, but I'm not entirely sure if it correct.

From what I know, if I were to see ¨y=7500(1.08)t¨, we could have to substitute the t with the number of years. Looking like this, ¨y=7500(1.08) x 6¨.

The reason I don know if my answer is correct or not since I don know if you have the t next to 1.08 to represent that or to simply multiply the property of it with 6 (the number of years).

So I tried...

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