[tex]\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$8000\\ r=rate\to 5.5\%\to \frac{5.5}{100}\dotfill &0.055\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{weekly, then fifty two} \end{array}\dotfill &52\\ t=years\dotfill &6 \end{cases}[/tex]
[tex]\bf A=8000\left(1+\frac{0.055}{52}\right)^{52\cdot 6}\implies A\approx 8000(1.00106)^{312}\implies A\approx 11133.81[/tex]
Mark's account balance after six years is $ 11126.
The term compound interest refers to the interest that accrues both on the principal and on the interest.
P = $8,000
r = 5.5% or 0.055
t = 6 years
n = 52 times
Hence;
A = 8,000(1 + 0.055/52)^(6 × 52)
A =$ 11126
Learn more about compound interest: https://brainly.com/question/731147?
