How much is $1250 worth at the end of 3 year, if the interest rate of 6.5% is compounded weekly?

Question

How much is $1250 worth at the end of 3 year, if the interest rate of 6.5% is compounded weekly?

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Ngọc Hoa 4 years 2021-08-06T21:37:12+00:00 1 Answers 8 views 0

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  1. yenoanh
    0
    2021-08-06T21:38:17+00:00
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    Answer:

    3 X 52 =156

    100+6.5 = 106.5, 106.5/100 = 1.065

    1250 X 1.065^156 = 23091323.5

    $23091323.50

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