Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $7,000
Interest rate (i)= 2.5%
To calculate the future value after x years, we need to use the following formula:
FV= PV*(1 + i)^x
Now, for 9 years:
x= 9
FV= 7,000*(1.025^9)
FV=$8,742.04