Answer:
$9450
Step-by-step explanation:
We will use compound interest formula:
[tex]F=P(1+r)^t[/tex]
Where
F is future amount [what we want to figure out]
P is present amount [9000]
r is rate of interest [since we want for 6 months, the annual interest divided by 2 is r. So r = 10/2 = 5% or 0.05]
t is the time [ the time period is for 6 months so t = 1 since we already converted the interest rate to 6 month chunk]
Putting in formula, we get:
[tex]F=P(1+r)^t\\F=9000(1+0.05)^1\\F=9000(1.05)\\F=9450[/tex]
