Answer:
$3153.00
Explanation:
You want the value of $1121 after 12 years if it earns 9% interest compounded annually.
Future value
The value is given by the formula ...
A = P(1 +r)^t
where P is invested at annual rate r for t years.
A = 1121(1 +0.09)^12 ≈ 3153.00
The future value of the investment is $3153.00.
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