Question

Find the final amount of money in an account if $500 is deposited at 3.5% interest compounded weekly and the money is left for 8 years. Use A=P(1+rn)nt. (Hint: There are 52 weeks in a year.) The final amount is $ . Round answer to 2 decimal places

Name: find the final amount of money in an account if 500 is deposited at 35 interest compounded weekly and the money is left for 8 years use ap1rnnt hint there are 52 weeks in a year the final am 93785
Uploaded: 2022-07-13T02:52:12-08:00
Duration: 2 min 1 s
Channel: Kathleen Carty
Description: find the final amount of money in an account if 500 is deposited at 35 interest compounded weekly and the money is left for 8 years use ap1rnnt hint there are 52 weeks in a year the final am 93785

          Find the final amount of money in an account if $500 is deposited at 3.5% interest compounded weekly and the money is left for 8 years. 
Use A=P(1+rn)nt. (Hint: There are 52 weeks in a year.)
The final amount is $ . Round answer to 2 decimal places

Added by Alfredo F.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Kathleen Carty

07/13/2022

Step 1

To find the final amount of money in the account using the formula $ A = P(1 + \frac{r}{n})^{nt} $, we will follow these steps: ** Show more…

Show all steps

Thanks for your feedback!

Find the final amount of money in an account if $500 is deposited at 3.5% interest compounded weekly and the money is left for 8 years. Use A=P(1+rn)nt. (Hint: There are 52 weeks in a year.) The final amount is $ . Round answer to 2 decimal places