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OpenStudy (anonymous):
Simple Interest Question Help?? 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? $826.02 $743.97 $1,401.95 $2,096.70
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OpenStudy (nurali):
723(1+.029/2)^46 1,401.95
OpenStudy (anonymous):
It says compounded, that formula is for simple interest
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