SOLUTION: (1 point) How much do you need to invest in an account earning an annual interest rate of 2.233% compounded weekly, so that your money will grow to $7,230.00 in 36 weeks? 7230

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Question 1149944: (1 point) How much do you need to invest in an account earning an annual interest rate of 2.233% compounded weekly, so that your money will grow to $7,230.00 in 36 weeks?

7230=P(1+.02233/52)^52(?) I'm not sure what to put for t
Found 2 solutions by josmiceli, MathTherapy:
Answer by josmiceli(19441)   (Show Source): You can put this solution on YOUR website!
If the length of time was 10 years, then
so, if the time is 36 weeks, then
------------------




$7,119.11
Get another opinion if needed
Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!
(1 point) How much do you need to invest in an account earning an annual interest rate of 2.233% compounded weekly, so that your money will grow to $7,230.00 in 36 weeks?
7230=P(1+.02233/52)^52(?) I'm not sure what to put for t
I'm not sure if the amount is PER WEEK or a LUMP-SUM. Based on your calculation though, it appears to be a LUMP-SUM. 

Responding to your question, it should be 

P, or PV/Amount to be invested, should be:  

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