Question: Use the compound interest formula A = P( 1 + r/n) nt ,where P is the amount deposited, A is the value of the money

Use the compound interest formulaA=P(1 +r/n) nt,wherePis the amount deposited,Ais the value of the money aftertyears,ris the annual interest rate as a decimal, andnis the number of compounding periods per year.

A computer network specialist deposits$2900into a retirement account that earns6.5%annual interest, compounded daily. What is the value of the investment after25years? (Round your answer to two decimal places.)

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