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9 February, 14:54

Kaiden deposited $6200 into a savings account for which interest is compounded weekly at a rate of 2.77%. How much interest will he earn after 8 years?

A. $1537.59

B. $1373.92

C. $201.31

D. $174.09

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Answers (1)
  1. 9 February, 15:13
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    The answer is actually $71,443.84 since 6200*2.77% = 171.74 and 171.74 * (8*52) = 71443.84
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