Nathan is thinking about opening a CD account with $32000. An investment company is offering 6.3% annual interest rate compounded monthly over 5-year period. If Nathan decides to open a CD account with the company, which formula will you use to help you figure out the interest that he will earn at the end of the 5-year period? Express the amount in two decimal places. For example, 23.45, or 57.20, or 89.00. Formula 1: A = P(1+rt) Formula 2: n-t = P(1+)** Formula 3: A = Pert (Enter the number only) Your choice of the formula number is What value will you use for the interest rate in the formula? The value that I will use is To the nearest penny, the amount of interest he will earn at the end of 5-year period is $

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