Answer:
The answer is option A $24,037.59
Step-by-step explanation:
P = [tex]7250[/tex]
r= 12% or [tex]0.12[/tex]
t = 10 years
n = 52 (There are 52 weeks in a year)
The formula to be used is :
[tex]p(1+\frac{r}{n})^{nt}[/tex]
Now putting the values in the formula we get
[tex]7250(1+\frac{0.12}{52})^{520}[/tex]
[tex]7250(1.002307)^{520}[/tex]
=> $24028.96
This is closest to $24037.59, so the answer is option A $24,037.59
