he Solution:
iven:
[tex]\begin{gathered} P=Principal=\text{ \$}3100 \\ \\ r=rate=3.75\text{\%} \\ \\ t=time=9years \end{gathered}[/tex]
We are required to find the amount the investment will be worth after 9 years.
he Compound interest formula:
[tex]A=P(1+\frac{r}{100})^n[/tex]
In this case:
[tex]\begin{gathered} A=amount=? \\ P=\text{ \$3100} \\ r=3.75\text{ \%} \\ n=9\text{ years} \end{gathered}[/tex]
Substitute:
[tex]A=3100(1+\frac{3.75}{100})^9=3100(1.0375)^9=4317.7217\approx\text{ \$}4318[/tex]
Therefore, the correct answer is $4318
