Question

In 2018 sienna invested 5000. The value of the invest,ent increases by 3%each year compounded weekly if she doesn't make additional transactions, what will be the value of her investment in 2025

Answer 1

Answer:

6168.02

Step-by-step explanation:

The formula for calculating future value:

FV = P (1 + r/m)^mn

FV = Future value  

P = Present value - 5000

R = interest rate = 0.03

N = number of years = 7

m = Number of compounding = 52

5000 x ( 1.000577)^52 x 7 = 6168.02