1. **Problem statement:** Charlie deposits 400 every month into an investment account earning 9% annual interest for 19 years. We want to find the future value of this investment and check if it is enough to buy a house costing 235000. 2. **Formula used:** The future value of an ordinary annuity (monthly deposits) is given by: $$FV = P \times \frac{(1 + r)^n - 1}{r}$$ where: - $P$ is the monthly deposit - $r$ is the monthly interest rate - $n$ is the total number of deposits 3. **Calculate parameters:** - Annual interest rate = 9% = 0.09 - Monthly interest rate $r = \frac{0.09}{12} = 0.0075$ - Number of years = 19 - Number of months $n = 19 \times 12 = 228$ - Monthly deposit $P = 400$ 4. **Calculate future value:** $$FV = 400 \times \frac{(1 + 0.0075)^{228} - 1}{0.0075}$$ Calculate $(1 + 0.0075)^{228}$: $$ (1.0075)^{228} \approx 5.9917 $$ Then: $$FV = 400 \times \frac{5.9917 - 1}{0.0075} = 400 \times \frac{4.9917}{0.0075} = 400 \times 665.56 = 266224$$ 5. **Interpretation:** The future value is approximately 266224, which is more than the house cost 235000. 6. **Conclusion:** Charlie will have enough money to buy the house. **Final answer:** $266224$ Yes, he will have enough!