compound intrest can you please help me understand this

I will use the same symbols as the last answerer.

B=P(1+r)ⁿ 

P=70,000

r = interest rate per compounding period, written as a decimal

n=number of compounding periods in total. 

eg 5%per annum compounded yearly r=0.05

6% per annum compounded monthly r=0.06/12

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If the money is compounded yearly then the first answer is correct

B=5000(1+0.09)⁹

$${\mathtt{5\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1.09}}\right)}^{{\mathtt{9}}} = {\mathtt{10\,859.466\: \!397\: \!211\: \!546\: \!945}}$$

Thats $10859.47

If the money is compounding monthly then this would be the calculation

B=5000(1+(0.09/12))^9*12

$${\mathtt{5\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}\left({\frac{{\mathtt{0.09}}}{{\mathtt{12}}}}\right)\right)}^{\left({\mathtt{9}}{\mathtt{\,\times\,}}{\mathtt{12}}\right)} = {\mathtt{11\,205.620\: \!861\: \!161\: \!185\: \!437\: \!5}}$$

That's $11205.62

etc

 

B=P(1+r)exponent n

B=balance

P=principal or the starting amount

r=intrest rate %

n= number of payments

B=70000(1+.09)exponent 9