Question 1149944
(1 point) How much do you need to invest in an account earning an annual interest rate of 2.233% compounded weekly, so that your money will grow to $7,230.00 in 36 weeks?
7230=P(1+.02233/52)^52(?) I'm not sure what to put for t
<pre>I'm not sure if the amount is PER WEEK or a LUMP-SUM. Based on your calculation though, it appears to be a LUMP-SUM. 
Responding to your question, it should be {{{matrix(1,11, A, "=", P(1 + i/m)^(mt), "=====>", "7,230", "=", P(1 + .02233/52)^(52 * (36/52)), "=====>", "7,230", "=", P(1 + .02233/52)^36)}}}
P, or PV/Amount to be invested, should be: {{{highlight_green("$7,119.11")}}}