katiewalkerburrows4 katiewalkerburrows4
  • 12-06-2020
  • Mathematics
contestada

Harry invests £6000 in the savings account. The account pays 3.4% compound interests per year. Work out the value of his investment after 3 years. Give your answer to the nearest penny.

Respuesta :

RVADAMARAJANCHITHRA
RVADAMARAJANCHITHRA RVADAMARAJANCHITHRA
  • 12-06-2020

Answer:

£6633.04

Step-by-step explanation:

The formula for compound interest is p(1+r/100)^t

Substitute p with principal, t with time and r with rate

6000(1+3.4/100)^3

6000(103.4/100)^3

6000 x 103.4/100 x 103.4/100 x 103.4/100

Solve to get £6633.04

Answer Link

Otras preguntas

-5 – (-2)3 3 is an exponent
Jonah and his friends go apple picking.jonah fills  5 baskets .each basket holds 15 applesif 14b of jonahs friends pick the same amount as Jonah,how many apples
Centrioles are found in animal cells. t/f?
how does the book the princess diaries end? the book by meg cabot
What is 123.08÷34 and how do I get the answer I'm stumped
Give a rule to the function. {(2,5), (3,10), (4,17), (√3, 4)}
Find a real number between 7 3/5 and 7 4/5
When did the first member of the genus Homo evolve?
What structure allows gases to enter a leaf
an internal membrane system where lipid components of the cell membrane are assembled, along with proteins and other materials a. lipid bilayer b. Osmotic press