Savings account with an interest rate


Problem:

Question: If you place $50 in a savings account with an interest rate of 7% compounded weekly, what will the investment be worth at the end of five years (round to the nearest dollar)?

  • $72
  • $70
  • $71
  • $57

Note: Explain all steps comprehensively.

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Accounting Basics: Savings account with an interest rate
Reference No:- TGS0888590

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