1) $38,000 at 9% compounded
monthly for 7 years

Note: Consider we need to find the amount.

Given:

Principal = $38000

Rate of interest = 9% compounded monthly

Time = 7 years

To find:

The amount after 7 years.

Solution:

Formula for amount:

Where, P is principal, r is the rate of interest in decimal, n is the number of times interest compounded in an year and t is the number of years.

The interest is compounded monthly, so n=12.

Putting in the above formula, we get

Therefore, the amount after 7 years is $71181.67.

number one is the correct answer

step-by-step explanation: dogs and cats are mentioned, no other animals