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fredd [130]
4 years ago
13

If Julie invests $9,250 at a rate of 7%, compounded weekly, find the value of the investment after 5 years

Mathematics
1 answer:
FinnZ [79.3K]4 years ago
5 0
Total = Principal * (1 + rate/n)^n*years where "n" is the number of compounding periods
Total = 9,250 * (1 + .07/52)^52*5
Total = <span>9,250 * (1.0013461538</span>)^260
<span><span>Total = 9,250 * 1.418733571 </span>
</span><span>Total = 13,123.29</span>
Source: Compound Interest Formulas
http://www.1728.org/compint3.htm


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