Question

If Julie invests $9,250 at a rate of 7%, compounded weekly, find the value of the investment after 5 years. $13,455.78

Answer 1

What is that $13,455.78? Something? I did this and got $13,122.76.  Here's how I did it:
Use this formula
$A=P(1+ \frac{r}{n} ) ^{(n)(t)}$ where A is the ending amount, P is the starting amount, n is the number of times it compounds a year, and t is the number of years.  We have all we need to set it up:
$A=9,250(1+ \frac{.07}{52} ) ^{(52)(5)}$
First divide and add inside the parenthesis:
$A=9,250(1.001346) ^{(52)(5)}$
then multiply the exponents:
$A=9,250(1.001346) ^{260}$
raise the value inside the parenthesis to the power of 260:
$A=9,250(1.418676)$
and finally multiply to get A = $13,122.76