rounding to the nearest cent

Question

400$ at 7% for 4 years. how do I round to the nearest cent

Answer 1

A = P(1+r/n)^nt

A =400(1.07)^4

= $524.32

if compounded annually

round up from 524.318 to 524.32

if compounded continuously

A=Pe^rt

=400e^.07(4)

=400e^.28

= $529.25

if compounded daily, quarterly or monthly

replace n= with 365, 4 or 12 in the

formula P(1+r/n)^nt

A is between 524.32 and 529.25