Answer:
She needs to have approximately $6950 on that account.
Explanation:
Since the account has an interest rate of 9% annually, then it's compounded and the earnings can be found by the following expression:
Where M is the final amount, C is the initial amount, r is the interest rate and t is the time elapsed in years.
She needs the money in 3 years, therefore t = 3. Applying this to the problem we have:
She needs to have approximately $6950 on that account.