Answer:
If the 1.4% rate of interest is the weekly rate of interest, Then, total first week interest = 1.4(d - w)/100 = 0.014(d - w)
But if the 1.4% rate of interest is a yearly rate of interest compounded weekly, then her total first week interest = 7(d - w)/2600 = 0.00269 (d - w)
Step-by-step explanation:
The interest, I = PRT
P = initial amount of dollars in account = (deposit - withdrawal) = (d - w)
R = rate of interest = 1.4% = 0.014/week
T = time = 1 week
If the 1.4% rate of interest is the weekly rate of interest
I = PRT = (d - w) × 0.014 × 1 = 0.014(d - w)
But if the 1.4% rate of interest is a yearly rate if interest compounded weekly,
P = initial amount of dollars in account = (deposit - withdrawal) = (d - w)
R = rate of interest = 1.4% = 0.014/year
T = time = 1 week = (1/52) years
I = PRT = (d - w) × 0.014 × (1/52) = 7(d - w)/2600 = 0.00269 (d - w)
Hope this Helps!!!
