Answer:
$ 1459.64
Explanation:
To find out how much more money Alicia would have today if she had invested the money at 6 percent instead of 5 percent, we can find the difference in the amounts accumulated over the 10 years.
First, let's calculate the amount Alicia would have after 10 years at 5 percent interest:
[tex]\sf A = \$9000 \times (1 + 0.05)^{10} \\\\ A \approx \$14659.01[/tex]
Next, let's calculate the amount Alicia would have after 10 years at 6 percent interest:
[tex]\sf B = \$9000 \times (1 + 0.06)^{10} \\\\B \approx \$16118.65[/tex]
Now, to find the difference, we subtract the amount at 5 percent from the amount at 6 percent:
[tex]\sf Difference = B - A \\\\Difference \approx \$16118.65 - \$14659.01 \\\\Difference\approx \$1459.64[/tex]
