ArianaBrande ArianaBrande
  • 12-03-2018
  • Mathematics
contestada

What is the interest earnt on a $5000 investment at 6.4% p.a. after 3 years if interest is compounded weekly?

Respuesta :

shresthasusan44
shresthasusan44 shresthasusan44
  • 12-03-2018
let's assume there are 52 weeks in a year,
so we have , rate= 6.4/52= 0.123%
now ,
c.i = 5000[(1+0.123/100)^3×52 -1]
= $1056.911
took me a while
Answer Link

Otras preguntas

If 3x=0, what is the value of 1+x+x^2
Tell how to find 81-16 using mental math
Grapes coast $1.99 per pound Write an expression for the cost of g pounds of grapes ?
What does human characteristics mean?
Can I write a narrative writing how the first time I fell in love with blue eyes?
What is the gcf of 30,45,75
one goal the french and Spanish colonists had in common in the new world was?
What is responsible for changing liquid water into water vapor?
How to write 5.104 in word form
What two simpler problems can you use to find 9 x 38