Question

PLEASE HELP!!! THANK YOU!!!

You have $1000 to invest in an account and need to have $2000 in one year. What interest rate would you need to have in order to have this if the amount is compounded weekly? Round your answer to the nearest percent.
A. 4%
B. 2%
C. 3%
D. 1%

Answer 1

3 or 2

Step-by-step explanation: I don't know, but I am gonna say that is the interest rate for the invest for saving up $2000

(Please correct me if I am wrong)

Answer 2

A. 4%

Explanation:

remember that there are 52 weeks in a year, so multiply 1000 by each answer, then multiply what you get by 52 to see if it is either below 2000 or just above 2000, and you'll see how i got 4%.