I’m struggling in finding the nearest cent, May you please help me

$88.48

Step-by-step explanation:

First, we can check the formula for compound interest, which is

, with A representing the end amount, r representing the interest rate, and n representing the amount of times compounded. We know that the interest rate is 9% (to convert this to a decimal, we can divide it by 100, resulting in 0.09), the end amount is 700, and the amount of times compounded is however many months are in 2 years (there are 12 months per year, and 12 *2 = 24, so 24 times).

Thus, our equation is

Divide both sides by 7.911083 to isolate P, and we get

P = 88.48 (rounded to the nearest cent)