We would apply the formula for determining compound interest which is expressed as
A = P(1 + r/n)^nt
where
A = total amount in the account at the end of t years
r represents the interest rate
n represents the periodic interval at which it was compounded
p represents the principal or initial amount deposited
From the information given,
P = 11260
t = 6
r = 7.5/100 = 0.075
n = 52(Assuming the number of weeks in a year is 52 and it would be compounded 52 times in a year)
Thus, we have
A = 11260(1 + 0.075/52)^52*6
A = 11260(1 + 0.075/52)^312
A = 17653.5
Answer:
-3
Step-by-step explanation:
Writing it as a decimal would be 3.85 you just divide it
