Colin invests £4800 into his bank account.
He receives 3% per year compound interest.
How much will Colin have after 7 years?
Give your answer to the nearest penny where appropriate.
Answers
Answered by
1
Answer:
£5808
Step-by-step explanation:
Principal = £4800
Rate of interest = 3% p.a.
Time = 7years
S.I. = prt/100 = 4800*3*7/100 = £1008
Amount colin will get = principal + S.I.
= £(4800+1008) = £5808
Answered by
1
Answer:
£ 5903.39
Step-by-step explanation:
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