Interest rate math question

Question

When you were born, a generous family member decided to invest $1000 for you. If the average rate of return (interest rate) was 7% per year. 

How much will it be worth after 18 years if it is compounded bi-weekly?

Answer 1

The general formula for compound interest is A(t)=P(1+(r/n))^(nt) where A(t) is the amount in the account after t years, P is the principal amount--the amount initially invested (=A(0)), r is the annual interest rate, and n is the number of times per year the interest is compounded (that is, the number of times per year the earned interest is added to the interest bearing amount),

There are 52 weeks in a year, so if the interest is compounded bi-weekly (every 2 weeks), then n=26, t=18, P=1000, and r=0.07.