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 compound interest with deposit. if you have a weekly compound interest and a weekly deposit. What would that equation look like? a standard

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compound interest with deposit. if you have a weekly compound interest and a weekly deposit. What would that equation look like? a standard weekly compount interest equation could be (inittial deposite x 1+interest ^ 52 weeks) 1000 x 1.02^52 and now i want include a weekly deposite in this equation too.

 Nov 17, 2014

Best Answer 

 #1
avatar+23254 
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A  =  P · [ ( 1 + r/n ) ^ (n·t) - 1 ] · (n/r)

A  =  final amount

P  =  deposit per time period  -- if weekly, amount deposited per week

r  =  rate (as a decimal)

n  =  number of times compounded per year  -- if weekly, use 52

t  =  number of years

 Nov 18, 2014

1+0 Answers

 #1
avatar+23254 
+5
Best Answer

A  =  P · [ ( 1 + r/n ) ^ (n·t) - 1 ] · (n/r)

A  =  final amount

P  =  deposit per time period  -- if weekly, amount deposited per week

r  =  rate (as a decimal)

n  =  number of times compounded per year  -- if weekly, use 52

t  =  number of years

geno3141 Nov 18, 2014

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