Part 2:
you are planning to go on this trip in 2 years. how much money will you need to invest at a 1.55% interest rate compounded annually in order to have $2500 in 2 years? use the compound interest formula a = p (1 + i)n. (round final answer to the nearest cent, but otherwise don’t round any intermediate values)

part 3:
now say you only have $2000 to invest and the highest interest rate you can find is 1.8% compounded annually. if you decide to wait 7 years to go on the trip, how much money will you have to spend on the trip? use the compound interest formula a = p (1 + i)n. (round final answer to the nearest cent, but otherwise don’t round any intermediate values)

part 4:
write a paragraph explaining how you would prepare financially for this trip. would you invest the $2200 and wait until it grows to $2500? would you add to the investment of $2200 so it will grow to $2500 by the time you want to take the trip? would you invest the $2200 and come up with the rest of the money when you want to take the trip? explain your answer.