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Interest compounding weekly

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Reference no: EM131154901

For the following exercise, use the compound interest formula, A= P( 1 + r/n )^nt, , where money is measured in dollars.

An account is opened with an initial deposit of $8,500 and earns 3.7% interest compounded semi-annually for 35 years. How much more would the account have been worth if the interest were compounding weekly? (Round your answer to the nearest cent.)

Please explain the steps

Reference no: EM131154901

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