chad decides to start saving money for a new car he knows he can invest money into an account wh

Name: chad decides to start saving money for a new car he knows he can invest money into an account which will earn 65 apr compounded weekly and would like to have saved 11000 after 5 years how mu 80557
Uploaded: 2023-05-10T13:54:59-08:00
Duration: 2 min 9 s
Channel: Tim Thornhill
Description: chad decides to start saving money for a new car he knows he can invest money into an account which will earn 65 apr compounded weekly and would like to have saved 11000 after 5 years how mu 80557

Question

Babita Kumari · Accepted Answer

1. We know that Chad wants to have $11,000 after 5 years.

Question

Chad decides to start saving money for a new car. He knows he can invest money into an account which will earn 6.5% APR, compounded weekly, and would like to have saved $11,000 after 5 years. How much money will he need to invest into the account now so that he has $11,000 after 5 years.

Please give Ace some feedback