Answer:
Step-by-step explanation:
Since you have the formula it's just plugging in. If you'd like to know why the formula works let me know and i can give an explanation, or at least link a video.
A=P(1+r/n)^(nt)
P is the starting money, r is the interest rate in decimal form, n is the number of times per year compounded and t is number of years.
P = 240
r = .09
n = 12
t = 14
A = 240(1+(.09/12)^(12*14)
A = 240(1 + .0075)^168
A = 240(1.0075)^168
A = 240*3.5089
A = 842.136
So you wind up with $842.14
