Alex deposits $9,000 in a Certificate of Deposit (CD) with an APR of 1.2%, compounded monthly. How much will be in the CD in 9

Question

Alex deposits $9,000 in a Certificate of Deposit (CD) with an APR of 1.2%, compounded monthly. How much will be in the CD in 9 years, to the nearest dollar? The formula for compound interest is given below.
A = P(1 + r/100)nt

Kunduz · Accepted Answer

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