[tex]\$89.57[/tex]
1) Considering the given data, let's turn that mixed number into a decimal form. 3 1/4 is the same as 3.25.
2) Now, we can plug all the data we were told.
[tex]\begin{gathered} 120=P_0e^{0.09\times3.25} \\ Pe^{0.09\times \:3.25}=120 \\ \frac{Pe^{0.09\times \:3.25}}{e^{0.2925}}=\frac{120}{e^{0.2925}} \\ P=\frac{120}{e^{0.2925}} \\ P=89.56742\approx89.57 \end{gathered}[/tex]
Note that we had to round it off to the nearest cent as requested.
