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A couple deposits 21,000 into an account earning 6% annual interest for 15 years. Calculate the future value of the investment if the interest is compounded weekly. Round your answer to the nearest cent.

解

A couple deposits 21, 000 into an account earning 6% annual interest for 15 years. Calculate the future value of the investment if the interest is compounded weekly. Round your answer to the nearest cent.

解

Amount : 51624.87

解答ステップ

Translate the problem into an equation:

A = 21000 (1 + \frac{0.06}{52})^{52 \cdot 15}

21000 (1 + \frac{0.06}{52})^{52 \cdot 15} = 51624.87376 \dots

最も近い

h u n d re d t h

に四捨五入:

51624.87

Amount : 51624.87

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