Question

George put his birthday paycheck of $150 in an account that earned 9.5% annual interest compounded weekly. How much was in his account after 7 years?

Answer 1

I believe George will have 249.75 dollars.

If he earns 9.5% annually, you would have to multiple .095 which is 9.5% by 150 to get 14.25. Once you have that you need to multiply it by 7 for the 7 years that it’s in the account to get 99.75, next add that to 150 to get the answer


150 x .095 = 14.25

14.25 x 7 = 99.75

99.75 + 150 = 249.75

Hope it’s helpful:/