Calculate the future value of $6,000 earning 7% interest compounded quarterly for 9 years. (Round your answer to two decimal places.)

To calculate the future value of $6,000 earning 7% interest compounded quarterly for 9 years, we can use the formula for compound interest: \[ A = P \left(1 + \frac{r}{n}\right)^{nt} \] Where: - \( A \) is the future value of the investment - \( P \) is the principal amount (the initial investment) = $6,000 - \( r \) is the annual interest rate (in decimal form) = 7% = 0.07 - \( n \) is the number of times interest is compounded per year = 4 (quarterly) - \( t \) is the time the money is invested for, in years = 9 Plugging in the values: \[ A = 6,000 \left(1 + \frac{0.07}{4}\right)^{4 \times 9} \] \[ A = 6,000 \left(1 + \frac{0.07}{4}\right)^{36} \] \[ A = 6,000 \left(1 + 0.0175\right)^{36} \] \[ A = 6,000 \left(1.0175\right)^{36} \] Using a calculator: \[ A \approx 11,204.44 \] Therefore, the future value of $6,000 earning 7% interest compounded quarterly for 9 years is approximately $11,204.44.