gxrda910 gxrda910

19-04-2021
Mathematics

contestada

Q9.
£4000 is invested at 2% compound interest.
(a) What is the value of the investment after 3 years?

Respuesta :

altavistard altavistard

19-04-2021

Answer:

£4244.83

Step-by-step explanation:

Use the compound amount formula:

A = P(1 + r)^t. Here, P = £4000, r = 0.02 and t = 3 yrs

So: A = £4000(1 + 0.02)^3, which comes to:

A = £4000(1.061) = £4244.83

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