Based on the amount he invested and the period of his investment, Ricardo's investment worth in 9 years will be $12,286.
The period of compounding is weekly so you first need to convert the interest rate to a weekly rate as well as the period of investment:
= 3.9% / 52 = 3.9/52%
= 9 years x 52 weeks per year = 468
Value of the investment after 9 years is:
= Amount x ( 1 + rate) ^ no. of periods
= 8,650 x (1 + 3.9/52%)⁴⁶⁸
= 12,285.599
= $12,286
In conclusion, the investment would be worth $12,286.
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