Dude, that answer makes no sense at all, does it? You put $5.25 in a bank account and it grows to 15,000 in five years? When you get an answer that seems to make no sense, do not just accept it. Review your work and your understanding.
This is a great improvement. You remembered how many weeks are in a year. And you remembered that you need to change the rate per year into a rate per week. You still have the percent to take into account. You made an error there.
No, r is not .675, sorry. You need to think if what you are saying/writing makes sense. 50% = .50 . You have .675 which is greater than .50. That is .675 is greater than 50%. But r is NOT greater than 50%, it is 6.75%
Actually it is. Just do the computation more carefully as it is not 2804.30.
You have the formula coreect. You messed up somewhere in the arithmetic.
Do the whole computation in one shot or round off less. I get almost what you have, just the cents are different.
If only the banks would do that. I really could use quarter.