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How much will you have in your account after 10 years if the interest is compounded weekly?

 Mar 6, 2023
 #1
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March, 2023$10,000.00$0.00$10,000.00

April, 2023$10,100.00$25.47$10,125.47

May, 2023$10,200.00$51.27$10,251.27

June, 2023$10,300.00$77.38$10,377.38

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 Mar 6, 2023
 #2
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10 years x  52 weeks ==520 weeks

 

FV ==PV * [ 1 + R/m]^(n*m)

FV ==3,000 * [1  +  0.035/52]^(10*52)

FV ==3,000 * [ 1.000673076923]^520

FV ==3,000 *     1.41890048361

 

FV==$4,256.70 - your account balance after 10 years at 3.5% compounded weekly.

 Mar 6, 2023

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