Step 1 :We are given a problem where we need to find the future value of an investment. The principal amount is $22,000, the annual interest rate is 9%, and the time period is 5 years.
Step 2 :We use the formula for simple interest to solve this problem. The formula is \(FV = P(1 + rt)\), where FV is the future value of the investment, P is the principal investment amount, r is the annual interest rate (in decimal), and t is the time the money is invested for, in years.
Step 3 :Substitute the given values into the formula: \(FV = 22000(1 + 0.09 * 5)\).
Step 4 :Solve the equation to find the future value.
Step 5 :The future value of the investment is \(\boxed{\$31,900.00}\).