Check my work please?
Use the compound interest formula. given three of the quantities, A, P, r and t, find the remaining one.
question:
If you invest 7400 for 5 years which will return more money : an interest rate of 5% compounded quarterly or an interest rate of 4.8% compounded continuously.
For the first one I got $7874.21 and for the second one I got 7407.24 concluding that the second investment will return the most money.
Is this correct?

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\[A=P \left( 1+\frac{r}{n} \right)\]
n = number of times the interest is compounded per year

If you invest $7400 at 5% compounded quarterly for 5 years, you will have $ 9487.08

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