Find the total amount in the compound interest account. $9000 is compounded semiannually at a rate of 12% for 18 years. $ nothing (round to the nearest cent.)

The total ammount in the compound interest account is $73325.30

Step-by-step explanation:

The compound interest formula is given by:

A: Amount of money(Balance)

P: Principal(Initial deposit)

r: interest rate(as a decimal value)

n: number of times that interest is compounded per unit t

t: time the money is invested or borrowed for.

In our problem, we have that:

A = total amount

P = $9000

r = 0.12

n = 2(semiannually means twice a year)

t = 18

So:

The total ammount in the compound interest account is $73325.30

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