Answer:
Step-by-step explanation:
We can use the interest equation (mind you it is the same thing as said in the problem) to solve this:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
Where A is the resulting amount, r is the interest rate, n is the number of times compounded per year and t is the time.
[tex]A=1209(1+\frac{.082}{12} )^{12*26}[/tex]
A = $10,120.29
