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

question 7

Short Answer

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

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Definitions:

Innermost Tunic

The deepest layer of a structure, often referring to the inner layer of a blood vessel or other tubular organ.

Rods

Photoreceptor cells in the retina that are sensitive to low light levels and are responsible for night vision.

Photoreceptor Cells

Specialized cells in the retina of the eye that respond to light, enabling vision.

Innermost Tunic

The deepest layer of an organ or structure, often referring to the inner layer of blood vessels that is in direct contact with the blood.