Answer:
1498.17
Step-by-step explanation:
formula A = P[tex](1 + \frac{r}{100} )^{n}[/tex] where r is the rate of interest compounded and n is the number of times compounded.
r = 4.5 / 12 = 0.375 since it is compounded monthly thus need to divide by 12 months
n = 9 x 12 = 108 ( 9 years in months)
A = 1000[tex](1 + \frac{0.375}{100})^{108}[/tex] = 1498.167
