Answer:
A(t) = 9000(1 + 0.036/12)^12t
[Function formula for the compound interest]
A = 9000(1 + 0.036/12)^12t
[General formula for the compound interest]
A(1) ≈ 9329.40 $
[Compound interest over 1 year]
Explanation:
Compound interest formula:
A = P(1 + r/n)^nt.
P is the principal or starting amount.
r is the interest rate.
n is the number of times compounded per year.
t is the period of time.
Given P is 9000, r is 3.6% or 0.036, n is 12 or monthly, and t is variable.
The following function represents the relationship over time:
A(t) = 9000(1 + 0.036/12)^12t