Answer:
[tex]\text{(a) }\$10,080,\\\text{(b) }\$11,289.60,[/tex]
Step-by-step explanation:
Since interest is compounded annually, the amount of money the account has after [tex]n[/tex] years is given by [tex]y=9,000\cdot 1.12^n[/tex].
(a) After 1 year, [tex]n=1[/tex]:
[tex]9,000\cdot 1.12^1=\boxed{\$10,080}[/tex]
(b) After 2 years, [tex]n=2[/tex]:
[tex]9,000\cdot 1.12^2=\boxed{\$11,289.60}[/tex]
