Question: nt Use the interest formula A = P( 1+ ) An investment offers 5.5% interest compounded weekly if the investor keeps the money untouched for

nt Use the interest formula A = P( 1+ ) An
nt Use the interest formula A = P( 1+ ) An investment offers 5.5% interest compounded weekly if the investor keeps the money untouched for a 5-year period. (This is known as a certificate of deposit.) Round your answers to the nearest cent. Part 1 of 2 (a) How much would an initial investment of $6000 be worth at the end of the initial 5-year period? At the end of the initial 5-year period, the $6000 would be worth $ 7898.03 Part: 1 / 2 Part 2 of 2 (b) If the investor decides to roll that new amount into another certificate of deposit with the same terms, find the value at the end of the second 5-year period. At the end of the second 5-year period, the value of the investment would be $ X

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