Your savings account has a balance of $5435.55.You opened the account 5 years ago. Interest on the account is compounded weekly at an annual interest rate of 4.5%. How much did you invest originally?

Guest Jun 7, 2021

#1**+2 **

period = 1 week

# periods in 5 years = 5 * 52 = 260 periods

interest per period = .045 / 52

5435.55 = orig * ( 1 + .045/52)^{260}

orig invest = 4340.80

ElectricPavlov Jun 7, 2021