Jenny wants to buy a new dress for her first school dance. She borrows $25.63 from her sister to help pay for the dress. Then Je
1 answer:
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Answer:
$3644675.9
Step-by-step explanation:
The initial investment is $100000. The interest rate is 12%.
We are asked to determine the final amount the investment will become after 30 years if the interest is compounded weekly.
The weekly interest rate is %.
Assuming 1 year equivalent to 52 weeks.
Hence, using the formula of compound interest the final sum will be
= $3644675.9 (Approximate)
