Solution-Interest compounding weekly

Interest compounding weekly

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Reference no: EM131154901

For the following exercise, use the compound interest formula, A= P( 1 + r/n )^nt, , where money is measured in dollars.

An account is opened with an initial deposit of $8,500 and earns 3.7% interest compounded semi-annually for 35 years. How much more would the account have been worth if the interest were compounding weekly? (Round your answer to the nearest cent.)

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Reference no: EM131154901

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Interest compounding weekly

Reference no: EM131154901

Reference no: EM131154901

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