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STEVIEB0217
Apr 8, 2014, 05:27 PM
Jim puts had $5000 in a CD on January 1st, 2008. He deposited an additional $350 each month for the next 4 years.What annual rate of interest compounded weekly would he need in order to have had a total of $22500 in his CD at the end of December 2012?

N = 48
**I = 0?
PV = 5000
PMT = -350
FV = 22500
P/Y = 12
C/Y = 52
PMT = END

That's what I have for the formula but every time I try to calculate the Interest rate it keeps saying
"ERR:ITERATIONS"... what am I doing wrong?

** Do I need to make "N" into weeks, which would then be 208, but the result is -17?

PLEASE HELP I'M NEW TO MATH 12!