you need to have the original formula, the foumula with values included, the entire calculated value, and the rounded number.
asked Jul 12 in Algebra 1 Answers by anonymous

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.

1 Answer

Taking a year as 52 weeks, the weekly interest rate to be compounded is 5.75/52=0.110577%=0.00110577.

Using the formula growth (yield)=(1+r)ⁿ, where r is the rate and n the number of periods (weeks).

So the yield=1.00110577⁵²=1.05915 approx, that is, 5.92% over the year.

answered Jul 12 by Rod Top Rated User (552,780 points)

Related questions

Welcome to MathHomeworkAnswers.org, where students, teachers and math enthusiasts can ask and answer any math question. Get help and answers to any math problem including algebra, trigonometry, geometry, calculus, trigonometry, fractions, solving expression, simplifying expressions and more. Get answers to math questions. Help is always 100% free!
81,213 questions
85,312 answers
2,153 comments
68,747 users