You will make $200 deposits every week into a retirement account for the next 20 years until you...

Given information:

• Deposit = $200
• N = 20 x 52 = 1040
• I = 0.15% per week

Determine the account balance after 20 years:

{eq}Balance = \displaystyle Deposit\times\frac{(1 + I)^N - 1}{I} {/eq}

{eq}Balance = \displaystyle $200\times\frac{(1 + 0.15\%)^{1040} - 1}{0.15\%} {/eq}

{eq}Balance = $500,434.96 {/eq}