Question: nt r Use the interest formula 4 =P(1 + ) . n An investment offers 4.5% interest compounded weekly if the investor keeps the money

 nt r Use the interest formula 4 =P(1 + ) .

nt r Use the interest formula 4 =P(1 + ) . n An investment offers 4.5% interest compounded weekly if the investor keeps the money untouched for a 4-year period. (This is known as a certificate of deposit.) Round your answers to the nearest cent. Part: 0 / 2 Part 1 of 2 (a) How much would an initial investment of $8000 be worth at the end of the initial 4-year period? At the end of the initial 4-year period, the $8000 would be worth $ % S

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!