Determine value of an account at the end of 9 years where a principal amount of 9000 was deposited with an annual interest rate of 7 % and the interest is compounded monthly. the amount after 9 years will be what? round to nearest cent as needed

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A: It is given that, the amount after 2 years is A = $1000, n = 4 since compounded quarterly, r = 0.06.…