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Total = Principal * (1 + rate/n)^n*years
where n = number of compounding periods per year
Total = 9,250 * (1 + (.07/52))^52*5
Total = 9,250 * (1<span>.0013461538</span>)^260
Total = 9,250 * <span> <span> <span> 1.418733571 </span> </span> </span>
Total = <span> <span> <span> 13,123.2</span></span></span>9
Source:
http://www.1728.org/compint3.htm
where n = number of compounding periods per year
Total = 9,250 * (1 + (.07/52))^52*5
Total = 9,250 * (1<span>.0013461538</span>)^260
Total = 9,250 * <span> <span> <span> 1.418733571 </span> </span> </span>
Total = <span> <span> <span> 13,123.2</span></span></span>9
Source:
http://www.1728.org/compint3.htm