Enrico invested money at 3.95%, compounded weekly, while Paul invested money at 3.95%, compounded semi-annually. After 3.5 years, each investment is worth $4000. Who made the greater original investment, and by how much was it greater?

Answer 1

Enrico:
i = .0395/52 = .000759615 , (I stored all the decimals)
n = 52(3.5) = 182

E(1.000759615)^182 = 4000
E = 4000/(1.000759615)^182 = $ 3483.71

Repeat the same steps for Paul.