Question: C 12. Jim puts had $5000 in a CD on January 1, 2008. He deposited an additional $350 dollars each month for the next

C 12. Jim puts had $5000 in a CD on January 1, 2008. He deposited an additional $350 dollars each month for

C 12. Jim puts had $5000 in a CD on January 1, 2008. He deposited an additional $350 dollars each month for the next 4 years. What annual rate of interest compounded weekly would he need in order to have had a total of $22500 in his CD at the end of December 2011? N = 1% = PV = PMT= FV = P/Y= C/Y= 12. 3 marks

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