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Use the Formula A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t }

Question 66

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Use the formula A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t } to find the amount for the investments. $2,200 for 5 years at 1.5% compounded annually. Please round the answer to the nearest hundredth. A=A = $__________ $2,200 for 5 years at 1% compounded quarterly. Please round the answer to the nearest hundredth. A=A = $__________ Determine which investment amounts to more. __________

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2,370.02; ...

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