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26 October, 18:04

Geoff has deposited $669 in a savings account that earns interest at a rate of 2.6% compounded twice a year. What will the account balance be in 12 years?

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  1. 26 October, 20:04
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    total = 669 * (1+0.026/2) ^2*12

    total = 669 * (1.013) ^24

    total = 669 * 1.363410671

    total = $912.12
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