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How much would you have to invest into a 5-yr certificate of deposit paying 2.3% compounded weekly to make it worth $4500 at the end of the term?

How much would you have to invest into a 5-yr certificate of deposit paying 2.3% compounded weekly to make it worth $4500 at the end of the term?
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How much would you have to invest into a 5-yr certificate of deposit paying 2.3% compounded weekly to make it worth $4500 at the end of the term?

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User Journeycorner
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1 Answer

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P=4500/(1+0.023÷52)^(52×5)=4,011.25
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User Alexander Selishchev
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7.7k points
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