Question: Use the compound interest formula A = P (1 + i ) n ,where P is the original value of an investment, i is the

Use the compound interest formulaA=P(1 +i)ⁿ,wherePis the original value of an investment,iis the interest rate per compounding period,nis the total number of compounding periods, andAis the value of the investment afternperiods.

A financial advisor recommends that a client deposit$2600into a fund that earns 7.5% annual interest compounded monthly. What will be the value of the investment after6years? Round to the nearest cent.

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