The bank offers a weekly interest rate of 0.1%. If you put $10 in the bank...
The bank offers a weekly interest rate of 0.1%. If you put $10 in the bank now, how much money do you have at the end of one year. (Round to the nearest cent.)
Homework Answers
Ans $ 10.53
| FV = | Future Value |
| PV = | Present Value |
| r = | rate of interest |
| n= | no of period |
| FV = | PV (1 + r )n |
| FV = | 10*(1+0.1%)^52 |
| FV = | 10.53 |
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