Answer:
$2535.88
Step-by-step explanation:
Using the compound interest formula Accrued Amount = P (1 + r/n)^(nt)
where Accrued amount is to be determined
P = principal; $2000
r = 4.75% = 0.0475
t = number of years = 5
n = number of times interest is compounded = 52
Therefore
Accrued amount = 2000 (1 + 0.0475/52)^(5x52)
= 2000 x (1.000913)^260
= 2000 x 1.2679
= $2535.88
