jin invested $96,000 in an account paying an interest rate of 6.9% compounded annually. assuming no deposits…

Explanation:

Step1: Identify the compound - interest formula

The compound - interest formula is $A = P(1 + r)^t$, where $A$ is the amount of money in the account after $t$ years, $P$ is the principal amount (initial investment), $r$ is the annual interest rate (in decimal form), and $t$ is the number of years.

Step2: Convert the interest rate to decimal

Given $r = 6.9%=0.069$, $P = 96000$, and $t = 9$.

Step3: Substitute the values into the formula

$A=96000\times(1 + 0.069)^9$. First, calculate $(1 + 0.069)^9$. $(1 + 0.069)^9=1.069^9\approx1.807$. Then, $A = 96000\times1.807 = 173572$.

Step4: Round to the nearest hundred dollars

Rounding $173572$ to the nearest hundred dollars gives $173600$.

Answer:

$173600$