Calculate, to the nearest cent, the future value FV (in dollars) of an investment of $10,000 at the stated interest rate after the stated amount of time. 4.5% per year, compounded weekly (52 times/year), after 3 years
Added by Teresa A.
Step 1
Since there are 52 weeks in a year, we divide 4.5% by 52. This gives us approximately 0.0865384615% per week. Show more…
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