Question 742265
Use the compound interest formula: 


A = P(1+r/n)^(n*t)


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where


A = amount in the account after t years

P = initial amount invested

r = interest rate (in decimal form)

n = compounding frequency

t = number of years


In this case


A = unknown (we're solving for this)

P = 1200

r = 0.03 (3% = 3/100 = 0.03)

n = 52 (we're compounding the amount in the account 52 times a year)

t = 10


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Plug all these values into the equation to get...


{{{A = P(1+r/n)^(n*t)}}}


{{{A = 1200(1+0.03/52)^(52*10)}}}


{{{A = 1200(1+0.000576923076923077)^(52*10)}}}


{{{A = 1200(1.00057692307692)^(52*10)}}}


{{{A = 1200(1.00057692307692)^(520)}}}


{{{A = 1200(1.34974204283122)}}}


{{{A = 1619.69045139747}}}


{{{A = 1619.69}}} Don't forget to round to the nearest penny.


So his investment will be worth <font color="red">$1,619.69</font> in 10 years.