Thermal Systems, a company that specializes in odor control for wastewater treatment plants, made deposits of $$100,000$ now and $$25,000$ every $6$ months for two years. Determine the future worth after $2$ years of the deposits for $i=16\%$ per year, compounded weekly.

The future worth after $2$ years of the deposits for $i=16\%$ per year, compounded weekly is $$250528.$

Explanation

The payment period is for $6$ months.

The compounding period is weekly.

The effective interest rate per payment period is

$\frac{i}{6}$ months $=((1+\frac{0\mathrm{.}08}{26}{)}^{26}-1)100$

$\frac{i}{6}$ months $=8\mathrm{.}315\%$

The answer is correct, but I need know how to solve this question. Also if compounded weekly! Thank you, I will upvote