You deposit $2700 in an account that pays 3% annual interest compounded weekly. How much money is in the account after 5 years?

A = $3136.86

Step-by-step explanation:

Given the following data;

Principal = $2700

Interest rate = 3% = 3/100 = 0.03

Number of times = 52

Time = 5 years

To find the future value, we would use the compound interest formula;

Where;

A is the future value.

P is the principal or starting amount.

r is annual interest rate.

n is the number of times the interest is compounded in a year.

t is the number of years for the compound interest.

Substituting into the equation, we have;

A = $3136.86

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step-by-step explanation: