Question

If Jeannie invests $7,250 at a rate of 12%, compounded weekly, find the value of the investment after 10 years.

Answer 1

A(10)=$24037.59

Explanation:

A(t) = P(1+(r/n))^(n*t)

A(10) = 7250(1+(0.12/52))^(10*52)

A(10) = $24037.59