Answer:
the account balance be in 12 years is $912.12
Step-by-step explanation:
Geoff has deposited $669 in a savings account that earns interest at a rate of 2.6% compounded twice a year.
[tex]A=P(1+\frac{r}{n} )^{nt}[/tex]
A is the balance amount
P is the Initial amount = 669
R= rate of interest 2.6%= 0.026
n is the number of times compounded=2
t is the number of years= 12
Plug in all the values and find out A
[tex]A=669(1+\frac{0.026}{2} )^{2 \cdot\ 12}[/tex]
[tex]A=669(1+0.013)^{24}[/tex]
A= 912.12
the account balance be in 12 years is $912.12
