Question 861337
The formula to use is A = P(1+r/n)^nt
a) P = 550, t = 5 years, r = .14, and n = 1
A = 550(1 + .14/1)^(1*5) = $1058.98
b) P = 650, t=15, r = .14, n = 1
A = 650(1 + .14/1)^(1*15)= $4639.66