Given:
Principal amount = $28,000
Time period = 9 years
Interest rate = 3.25
Required:
Find the total amount at the end of the period.
Step-by-step explanation:
The amount formula when the interest is compounded annually is given by the formula:

Where P =principal amount
r = rate of interest
T = time period
n = Number of time
Substitute the given values in the amount formula.

Final Answer:
Thus the amount after 9 years is $37,340.