Answer:
Step-by-step explanation:
a). Formula to be used,
A = P(1 + i)ⁿ
= 100(1 + 0.09)¹
= $109
b). Formula to be used,
A = [tex]P(1+\frac{i}{12})^{12n}[/tex]
= [tex]100(1+\frac{0.09}{12})^{12\times 1}[/tex]
= [tex]100(1+0.0075)^{12}[/tex]
= 100 × 1.0938
= $109.38
(c). Formula to be used,
A = [tex]Pe^{i\times n}[/tex]
= [tex]100e^{1\times 0.09}[/tex]
= [tex]100(e)^{0.09}[/tex]
= $109.42
