Answer:
The amount which Leo earned weekly is $10747.616
Step-by-step explanation:
Given as :
Principal deposited in account = $7,770.11
The compounded weekly rate of interest = 2.5%
The time period of loan = 13 years
Let the amount Leo earned = A
From compounded method
Amount = Principal × [tex](1 + \frac{Rate}{52\times 100})^{52\times Time}[/tex]
Or, Amount = $7,770.11 × [tex](1 + \frac{2.5}{52\times 100})^{52\times 13}[/tex]
Or, Amount = $7,770.11 ×[tex]( 1.000480)^{676}[/tex]
Or, Amount = $7,770.11 × 1.3832
∴ Amount = $10747.616
Hence The amount which Leo earned weekly is $10747.616 Answer
