For this problem, we are told that a principal of $9300 was deposited at an account that is compounded weekly. We need to calculate the time it will take for the amount to increase $1130.
To solve this problem, we need to use the following expression:
[tex]A=P(1+\frac{r}{n})^{n\cdot t}[/tex]Where A is the accrued amount, P is the principal amount, r is the annual interest rate, n is the number of times it is compounded in a year and t is the elapsed time.
For the account to increase $1130, it means that the accrued amount is the original one plus this value, therefore we have:
[tex][/tex]