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For an account that earns interest compounded annually, use a calculator to find the balance of the account. Round your answer to the nearest cent. P=$600 r=9.3%, t=2 years

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Determine the balance of the account, after interest compounded annually.

A=P(1+r)tWrite the formula=600(1+9.3%)2Substitute the values=600(1+0.093)2Show percent as decimal=600(1.093)2Add the values=600(1.194649)Evaluate the power=716.7894Multiply the valuesA=716.79Rounded off\begin{align*} A &= P(1 + r)^{t} && \text{Write the formula}\\ &= 600(1 + 9.3\%)^{2} && \text{Substitute the values}\\ &= 600(1 + 0.093)^{2} && \text{Show percent as decimal}\\ &= 600(1.093)^{2} && \text{Add the values}\\ &= 600(1.194649) && \text{Evaluate the power}\\ &= 716.7894 && \text{Multiply the values}\\ \boldsymbol{A} &\boldsymbol{= 716.79} && \text{Rounded off} \end{align*}

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