Question
How much will $8500 be worth if it is invested for 10 years at 6.5%/a, compounded weekly?
Answers
R_scott
8500 * [1 + (.065 / 52)]^(10 * 52)
henry2,
P = Po(1+r)^n.
r = 0.065/52 = 0.0049 = Weekly % rate expressed as a decimal.
n = 10yrs. * 52comp./yr. = 520 Compounding periods.
P = 8500*(1.0049)^520 =
r = 0.065/52 = 0.0049 = Weekly % rate expressed as a decimal.
n = 10yrs. * 52comp./yr. = 520 Compounding periods.
P = 8500*(1.0049)^520 =