Answer:
A = $32316.30
Step-by-step explanation:
Simple Interest Rate Formula: A = P(1 + r)ⁿ
Step 1: Define variables
Principal amount P = 27200
Rate r = 9% or 0.09
Number of years n = 2 years
Step 2: Substitute and Evaluate for A
A = 27200(1 + 0.09)²
A = 27200(1.09)²
A = 27200(1.1881)
A = 32316.30
