Given that
$200 are invested at 5% interest compounded annually.
And we have to find the Amount after 9 years.
Explanation -
The formula for amount is
[tex]Amount=P(1+\frac{r}{n})^{n\times t}[/tex]
We have to find the amount after 9 years so t = 9 and n = 12
And 5% in decimal form can be written as 5% = 5/100 = 0.05
Then,
[tex]\begin{gathered} Amount=200\times(1+\frac{0.05}{12})^{12\times9}=200\times(1+0.00416667)^{108} \\ Amount=200\times1.00416667^{108}=200\times1.566847=313.37 \end{gathered}[/tex]
So the correct option is C
ANd the final answer is $313.37
