SOLUTION: Find the effective yield ofco an investment that earns 4.75% compounded weekly. (Round to the nearest hundredth of a percent)

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Question 1181327: Find the effective yield ofco an investment that earns 4.75% compounded weekly. (Round to the nearest hundredth of a percent)
Found 2 solutions by Boreal, MathLover1:
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
this would be (1+(0.0475/52))^52=1.0486
or 4.86%

Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!

Answer:
Effective Annual Rate:
4.86%
Solution:
i=%281%2Br%2Fn%29%5En-1......n=52.weekly rate 0.0475
i=%281%2B0.0475%2F52%29%5E52-1
i=%281%2B0.047552%29%5E52-1
i=0.048623
I=i%2A100=4.86%