Answer:
$800.87
Step-by-step explanation:
The compound interest formula tells you the amount A resulting from investment of principal P at rate r compounded n times a year for t years:
A = P(1+r/n)^(nt)
Filling in the given numbers and doing the arithmetic, we get ...
A = $700(1 +.0225/4)^(4·6) ≈ $800.87
The account balance will be $800.87.
