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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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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Answer:
3 X 52 =156
100+6.5 = 106.5, 106.5/100 = 1.065
1250 X 1.065^156 = 23091323.5
$23091323.50