Answer: $58,088.57
Step-by-step explanation:
The investment is compounded weekly so you need to change the parameters of the equation to a weekly figure:
Interest rate is yearly so:
= 3.75%/52
= 3.75/52% per week
Number of periods is 4 years so:
= 4 * 52
= 208 weeks
Future value in 4 years is:
= 50,000 * ( 1 + 3.75/52%)²⁰⁸
= $58,088.57
Answer:
x = 5
3 = x/ 3 + 4
This is same as
3/1 = x/ 3 + 4
Then cross multiply
1(x + 4) = 3× 3
x + 4 = 9
x = 9 - 4