Find the final amount of money in an account if 38, 100 is deposited at 7% interest compounded weekly and the money is left for 8 years. The final amount is $ Round answer to 2 decimal places Submit Question

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...
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Find the final amount of money in an account if 38, 100 is deposited at 7% interest compounded weekly
and the money is left for 8 years.
The final amount is $
Round answer to 2 decimal places
Submit Question
Transcribed Image Text:Find the final amount of money in an account if 38, 100 is deposited at 7% interest compounded weekly and the money is left for 8 years. The final amount is $ Round answer to 2 decimal places Submit Question
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