Answer:
Explanatio$312,752
Explanation:
Weekly interest rate = [(0.06/365 + 1)^7] -1 * 100
Weekly interest rate = 1.0011525255 - 1 * 100
Weekly interest rate = 0.0011525255 * 100
Weekly interest rate = 0.1152%
No. of periods =52 weeks * 25 years = 1300
N = 1300; I/Y = 0.1152; PV = -2500; PMT = -100
Amount accumulated at the end = FV(1300, 0.1152, -2500, -100)
Amount accumulated at the end = $312,752 approximately
n:
