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

Question 65

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Use the formulas A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t } or A=pertA = p _ { \mathrm { e } } r t to find the amount for the investments. $4,800 for 5 years at 4% compounded continuously. Please round the answer to the nearest cent. A=A = $__________ $4,800 for 5 years at 4% compounded monthly. Please round the answer to the nearest cent. A=A = $__________ Determine which investment amounts to more. __________

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