document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1141909>Question 1141909</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 6. Cathy saves $25 at the end of each week and deposits the money in an account paying 5% compounded monthly. How much will she accumulate in 5 years? </SPAN>\n" );
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document.write( "The standard formulas for future value in problems like this are only valid if the frequency of contributions is the same as the frequency of compounding.<br><BR>\n" );
document.write( "You could convert the $25 per week savings into a monthly amount; but then you run into problems with different months having different numbers of weeks.<br><BR>\n" );
document.write( "If you really need to work this exact problem, use a spreadsheet, with contributions monthly to match the frequency of compounding, noting that $25 a week means a contribution of $100 in some months and $125 in other months. </SPAN>\n" );
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