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krok68 [10]
3 years ago
14

Elliot has deposited $723 in a savings account that earns interest at a rate of 2.9% compounded twice a year. What will the acco

unt balance be in 23 years? (2 points)
Select one:
a. $826.02
b. $743.97
c. $1,401.95
d. $2,096.70
Mathematics
1 answer:
Nadusha1986 [10]3 years ago
8 0
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
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