Question 987257
P=Po{1+r/n}^nt
P/Po=6.67 (a million over 150,000)
6.67=(1+.06/52)^52t
without rounding the 6.67, take ln of both sides
1.8971=52t ln (1.0011); ln 1.011, the not rounded, is 0.00115. Divide both sides by this.
31.64 years (rounded)
;
check is with rule of 72.  The money will double in 72/6=12 years. It will take 24 years to quadruple, and 48 years to increase eightfold.  The answer is in the range of sensibility.
put another way, (1.06)^31.64 should be near but below 6 2/3, since the interest is compounded weekly and not annually.  1.06^31.64 is 6.31.