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Elliot has deposited $723 in a savings account that earns interest at a rate of 2.9% compounded twice a year. What will the account balance be in 23 years? (2 points) Select one:…
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Elliot has deposited $723 in a savings account that earns interest at a rate of 2.9% compounded twice a year. What will the account balance be in 23 years? (2 points) Select one:…
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Sep 20, 2019
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Elliot has deposited $723 in a savings account that earns interest at a rate of 2.9% compounded twice a year. What will the account balance be in 23 years? (2 points)
Select one:
a. $826.02
b. $743.97
c. $1,401.95
d. $2,096.70
Mathematics
high-school
Santtu Pajukanta
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A=P(1+r/n)^(nt) where n= number of times compounded yearly, t= time and p= principle
A=723(1+.029/2)^(2*23)
A=$1,401.95 So C
Nury
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Sep 24, 2019
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Nury
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