If $22,550 is invested at 2.95% over 10 years, describe the amount of the investment if interest is compounded
a. Every 2 months
equation: -A(t)=Ao(1+i/n)n*t
The "n*t" in your equation is an exponent, which in this case is 6*10 = 60
There should no minus sign in front of A(t)
A(10) = 22,550*[1 + (0.0295/6)]^60
= $30,256.61
You need a pocket calculator or computer for such a tedious calculation. Or us can use Google.