Answer:
We can use the formula for compound interest:
A = P(1 + r/n)^(nt)
where:
A = the final amount
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the time period in years
In this case, we have:
P = £1430
r = 0.005 (0.5% per month)
n = 12 (compounded monthly)
t = 9/12 = 0.75 (9 months is three-quarters of a year)
So we can plug in these values to find the final amount:
A = £1430(1 + 0.005/12)^(12*0.75)
A ≈ £1481.18
Therefore, the amount of money in the account after 9 months will be approximately £1481.18.