Find the final amount of money in an account if
is deposited at
interest compounded weekly and the money is left for
years.

To find the final amount of money in an account with interest compounded weekly, we can use the compound interest formula:

\[
A = P \left(1 + \frac{r}{n}\right)^{n \cdot t}
\]

where:
- \( A \) is the final amount,
- \( P \) is the initial principal (amount of money deposited),
- \( r \) is the annual interest rate (as a decimal),
- \( n \) is the number of compounding periods per year (for weekly compounding, \( n = 52 \)),
- \( t \) is the number of years the money is left in the account.

If you provide the specific values for the principal amount, interest rate, and number of years, I can calculate the final amount for you.

Would you like to go through an example with specific values, or do you have the numbers ready?

---

### Related Questions

1. What would be the final amount with monthly compounding instead of weekly?
2. How would the final amount change if the interest was compounded daily?
3. What would happen if the interest rate doubled?
4. How can we calculate the amount of interest earned alone?
5. What if the initial deposit amount changes halfway through the compounding period?

---

**Tip:** For compound interest problems, always check if the compounding frequency (e.g., weekly, monthly) aligns with the interest rate period for accurate results.

Find the final amount of money in an account if a principal amount is deposited at a given interest rate compounded weekly and the money is left for a specified number of years.

Learn how to calculate the final amount of money in an account with a principal deposit, a specific interest rate, and weekly compounding over a period of years. This problem explores the compound interest formula, covering key financial and exponential growth concepts suitable for Grades 10-12.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation