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rockinhood
 one year ago
Will fan and medal if you help me with these two questions!
rockinhood
 one year ago
Will fan and medal if you help me with these two questions!

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rockinhood
 one year ago
Best ResponseYou've already chosen the best response.0Elliot 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? Logan opened a savings account 21 years ago with a deposit of $3,471.52. The account has an interest rate of 3.1% compounded monthly. How much interest has Logan earned?

rockinhood
 one year ago
Best ResponseYou've already chosen the best response.0I've literally been stuck on them for an hour, and it's no longer fresh on my mind as to how to do them.

zpupster
 one year ago
Best ResponseYou've already chosen the best response.2\[A=P(1+\frac{ r }{ n })^{nt}\] "A" is the ending amount "P" is the beginning amount "r" is the interest rate (expressed as a decimal) "n" is the number of compoundings a year "t" is the total number of years. n = 2

zpupster
 one year ago
Best ResponseYou've already chosen the best response.2A= 723(1+.0029/2)^2*23

zpupster
 one year ago
Best ResponseYou've already chosen the best response.2next is same just plug in your values except n=12 and r=.0031 P and t should be obvious from the problem

rockinhood
 one year ago
Best ResponseYou've already chosen the best response.0I'll be sure to ask you if I have any more questions, thanks!
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