Determine the final value for Compound interest problems

The video tutorial explains compound interest, starting with the concept and moving through a practical example. It uses an initial investment of $5000 with an 8% annual interest rate compounded weekly over 30 years. The tutorial walks through the calculation process, including converting the interest rate to a weekly rate and using the compound interest formula. The final result shows how the investment grows to $55,014.37 after 40 years, demonstrating the power of compound interest.

What is the total duration for which the investment is compounded?

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What is the final amount in the account after 40 years?

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