Question

You invest $4000 at 7% compounded weekly for 4 years. How much is the investment worth at the end of the 4 years?

Answer 1

$5291.52

Explanation:

So... the equation is f(x) = P(1+r/n)ⁿᵗ where r is the rate, n is the number of times compounded in a year, and t is time in years

if you plug the numbers in, you get (4000)(1+.07/52)^(4×52), which gives you $5291.52