So far I have the equation $480\left(1+\cfrac{0.07}{52}\right)^{52\times12}$
I think that is the right equation but it is not giving me the correct answer.
So far I have the equation $480\left(1+\cfrac{0.07}{52}\right)^{52\times12}$
I think that is the right equation but it is not giving me the correct answer.
If you are looking for the future value of $480 (under the given conditions), then yes, your answer is correct. (Assuming that the interest rate you are given is annual nominal interest rate).