Question
For the last 13 years, you deposited a certain amount of money each week into a bank account whose annual rate is 2% with weekly
For the last 13 years, you deposited a certain amount of money each week into a bank account whose annual rate is 2% with weekly compounding. If the account has $80,782 today, how much interest has the account earned? Round your answer to the nearest dollar.
Step by Step Solution
3.49 Rating (152 Votes )
There are 3 Steps involved in it
Step: 1
To calculate the interest earned we need to determine the principal amount that was deposited into t...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Fundamentals Of Statistics
Authors: Michael Sullivan III
4th Edition
978-032184460, 032183870X, 321844602, 9780321838704, 978-0321844606
Students also viewed these Finance questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App