Answer:
$1,129.27
Step-by-step explanation:
Compounded interest formula is
[tex]A=P(1+\frac{r}{n} )^{nt}[/tex]
Where [tex]A[/tex] is the final amount, [tex]P[/tex] is the principal, [tex]r[/tex] is the anual interest in decimal, [tex]n[/tex] is the numer of compounded periods in one year and [tex]t[/tex] is the time in years.
[tex]P= 800\\r= 0.09\\n= 1\\t= 4[/tex]
So then we plug our numbers...
[tex]A=800(1+\frac{0.09}{1})^{1(4)}=800(1.09)^{4}[/tex]
[tex]A=$1,129.27[/tex]
After 4 years the amount would be $1,129.27
