Question
Rachael deposits her inheritance of $45,000 into a savings account which has an annual interest rate of 3.9%, with interest compounded weekly, for a period
Rachael deposits her inheritance of $45,000 into a savings account which has an annual interest rate of 3.9%, with interest compounded weekly, for a period of 7 years.
(a) (8 points) How much money will Rachael have in her account after 7 years?
(b) (4 points) How much interest does Rachael earn on her investment?
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Contemporary Issues In Quantitative Finance
Authors: Ahmet Can Inci
1st Edition
1032101121, 978-1032101125
