College

An amount of 3700 is increased by 57.5% every week.

How much will it be worth after 11 weeks?

Answer :

After 11 weeks of increasing by 57.5% weekly compound interest, an initial amount of $3,700 will be worth approximately $330,246.08.

To calculate how much the amount will be worth after 11 weeks when it increases by 57.5% every week,

use the formula for compound interest:

A = P(1 + r)ⁿ

Where:

A = the final amount

P = the initial amount (3700)

r = the weekly rate (57.5% or 0.575 as a decimal)

n = the number of weeks (11)

Plug in these values:

A = 3700(1 + 0.575)¹¹

A ≈ 3700(1.575)¹¹

A ≈ 3700 × 89.370468

A ≈ 330,246.08 (rounded to two decimal places)

Therefore, after 11 weeks, the amount will be worth approximately $330,246.08 using compound interest.

Learn more about compound interest here

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