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The interest rate for an investment under $5000 is 6.75%, compounded monthly. a) If $2500 is invested for 2 years, how much will the investment

The interest rate for an investment under $5000 is 6.75%, compounded monthly.

a) If $2500 is invested for 2 years, how much will the investment be worth when it

matures?

What is the difference between the formula P=A(1+i)^-nand the formula used in question 6, part a)?

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