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If $5.000 is invested at a rate of 8%, compounded weekly, find the value of the investment after 7 years.
P: the principal, the amount invested A: the new balance t: the time r: the rate, (in decimal form) Ex1: If $1000 is invested now with simple interest of 8% per year. Find the new amount after two years. P = $1000, t = 2 years, r = 0.08. A = 1000(1+0.08(2)) = 1000(1.16) = 1160 i found this online
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