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. MONEY Hans opens a savings account by depositing $1200. The account earns
0.2 percent interest compounded weekly. How much will be in the account in 10
years if he makes no more deposits? Assume that there are exactly 52 weeks in a
year, and round your answer to the nearest cent.

Respuesta :

madsquith04

Answer:

$3391.54

Step-by-step explanation:

compound interest formula is

[tex]Fv=Pv[/tex] × [tex](1 + \frac{i}{n} )^{nt}[/tex]

Fv= future value

Pv= present value

i= annual interest rate

n= number of days/months/weeks etc

t= time in years

in this case I used "i" as weekly interest rate

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