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2 answers:
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Answer:
Option A.
Step-by-step explanation:
Note: Let as consider, we have to find the total amount after 9 years.
It is given that,
Principal amount = $1000
Rate of compound (yearly) interest = 15% = 0.15
Time = 9 year
The formula for total amount is
where, P is principal, i is rate of interest and n is number of years.
Substituting P=1000, i=0.15 and n=9, we get
So, the total amount after 9 years is $3517.88.
Therefore, the correct option is A.