After 9 years, Annabelle will have $119271.4 in her bank account as per compound interest
"Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest."
Given, the invested amount is (P) = $70000
The interest rate is (r) = 6.1% = 0.061
Duration of the investment (n) = 9 years
Therefore, the amount of money after 9 years will be
= P(1 +r )ⁿ
= $70000(1+0.061)⁹
= $119271.4
Therefore, the total amount after 9 years will be $119271.4.
Learn more about compound interest here: https://brainly.com/question/23433225
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