Answer:
The amount after 8 years is $ 16,031.579
Explanation:
Given as :
The Principal invested = $ 16000
The rate of interest compounded daily = 9 %
The time period = 8 years
Let The amount after 8 years = $ A
From Compounded method
Amount = Principal invested ×

Or, Amount = 16000 ×

Or, Amount = 16000 ×

∴ Amount = $ 16,031.579
Hence The amount after 8 years is $ 16,031.579 Answer