Question

Jimmy deposits $5000 into an account that pays 4.5% interest compounded weekly. How much would he have when he goes to withdraw his funds? There is not enough information to complete this problem. What part is missing if you are using the formula given below?

Answer 1

Answer: TIME

Step-by-step explanation: I cant see the formula, but I think the one you are using is Interest = (principal)(interest rate)(time). You have the interest rate and principal, but you need the amount of time to figure out how much he has earned.