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If you put $1,000 in a savings account that yields an 7% annual rate of interest that is compounded weekly,
a
how much would that be worth in 25 weeks (round to the nearest dollar)?
(Select the best choice below.)
O A. $1,040
O B. $1,034
O C. $1,043
OD. $1,025

Please show work! Thank you

Respuesta :

Answer:

Answer B- 1034

7% annual rate is 70. divide by 52 (total amount of weeks in a year) =1.35. 1.35 × 25=33.75 rounded up 34. 1000+34=1034