Edward has deposited $847 in a savings account that earns interest at a rate of 2.2% compounded daily. What will the account balance be in 18 years

$1,257.63

Step-by-step explanation:

A= p(1+r/n)^nt

P = principal = $847

r= interest rate = 2.2%

n= 360 per year

t= 18 years

A= p(1+r/n)^nt

= 847(1+0.022/360)^360*18

= 847(1+0.000061)^6,480

= 847(1.000061)^6,480

=847(1.4848)

= $1,257.63

Total balance in 18 years = $1,257.63

77

step-by-step explanation: