What is the future value of $1,400 in 20 years assuming an interest rate of 9.6%

B. $9,132.28

To figure it exactly, you evaluate
1400 * (1 + .096/2) ^ 40
since there are 40 semi-annual periods.

By the rule of 72, it will double in about 7-8 or eight years,
so about 2 1/2 to 3 times.

1400 * 8 = 9200, so A and C can be ruled out immediately.

It suggests that B is the answer,
but you have to do the exact calculation to find out precisely,
and answers D and E are not too far off from that.

Also, since D and E have the same digits, this might be one of those
multiple choice questions that tries to trip you up by having
another answer very similar to the correct answer.

A shortcut is to compute it up to the 5th power.
Then that squared = 10th power,
and square that twice more to get 20th power and 40th power.

Or use a calculator such as Windows Calculator
which has x^y built in: .096 / 2 + 1 x^y 40 and you have the answer.

I = I(o)(1 + r/100)^n
Where :-
I is total value
I(o) is initial investment
r = rate percent
n = term.

I = 1400(1+ 9.6/100)^20
I = 1400 (1.096)^20
I = 1400(6.255)
i = 8756.67 Answer 'D'.