Question

Find the value of $825 invested at 5% with interest compounded twelve times a year for 9 years

Answer 1

We assume it is future value we're looking for. Present value is $825.

Future value, F, can be calculated using the compound interest formula.
P=present value = $825
i=interest rate per month = 0.05/12
n=number of months = 12*9 = 108
F=value after 9 years=P(1+i)^n=825(1+0.05/12)^108=1292.65 (nearest cent)