Question 998731
John decides to start saving money for a new car. He knows he can invest money into an account which will earn 6.5% APR, compounded weekly, and would like to have saved $10,000 after 5 years. Determine the 5-year percent change for the account.

Can't figure out how to solve this problem- please explain. Thank you!!!
<pre>Use the present value formula: {{{P = A(1 + i/m)^(mt)}}} to find the present value or amount to be invested today. You should get a present value of: $7,226.74.
Percent change: {{{highlight_green(highlight_green(((10000 - 7226.74)/7226.74) * 100))}}}
Do the calc.!