<span>The correct answer is: Option (C) $1393.21
Explanation:
At the beginning of the Second year, the total balance would be:
$1200 + ($1200 * 7.75 / 100) = $1293
At the beginning of the Third year, the total balance would be:
$1293 + ($1293 * 7.75 / 100) = $1393.21 (Option C)</span>
Are you searching for how much Eva has or Justin?
A. Annual Savings = $60 * 12 = $720
b. $8384.48