Question

Find the final amount of money in an account if $8,300 is deposited at 8% interest compounded weekly and the money is left in the account for 6 years. Round your answer to 2 places after the decimal point (if necessary).

Name: find the final amount of money in an account if 8300 is deposited at 8 interest compounded weekly and the money is left in the account for 6 years round your answer to 2 places after the dec 77243
Uploaded: 2023-04-23T21:08:05-08:00
Duration: 1 min 25 s
Channel: James Kiss
Description: find the final amount of money in an account if 8300 is deposited at 8 interest compounded weekly and the money is left in the account for 6 years round your answer to 2 places after the dec 77243

          Find the final amount of money in an account if $8,300 is
deposited at 8% interest compounded weekly and the money is left in
the account for 6 years.
Round your answer to 2 places after the decimal
point (if necessary).

Added by Anthony M.

Precalculus with Limits

Ron Larson 2nd Edition

Instant Answer

Solved by Expert James Kiss

04/23/2023

Step 1

Since the interest is compounded weekly, there are 52 weeks in a year, so there are a total of 52 x 6 = 312 compounding periods. Show more…

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Find the final amount of money in an account if $8,300 is deposited at 8% interest compounded weekly and the money is left in the account for 6 years. Round your answer to 2 places after the decimal point (if necessary).